IMPACT OF TECHNICAL DEBT ON PROJECT FINANCIAL RESULTS

The article summarizes the evolution of the «technical debt» category in projects and classifies the main directions of research into the impact of technical debt on the effectiveness of projects. The content of the «technical debt» category in the projects has been summarized and clarified. The expediency of the extended interpretation of the «technical debt» category is substantiated. The parameters of the financial feasibility of technical debt management were analyzed. The main criteria for evaluating the effectiveness of the impact of technical debt on the financial results of projects have been identified. The prerequisites for the occurrence of technical debt during the implementation of projects are identified and analyzed, and the duality of the nature of technical debt (at the expense of both financial and technical) is substantiated. The influence of project limitations on the possibilities of managing technical debt in projects is analyzed. A financial optimization model of technical debt management during project management has been developed, which is recommended for use as a project management tool in general, and for managing the impact of technical debt on the financial results of projects, in particular. The types of expenses that will need to be incurred in the future in the absence of liquidation of the technical debt have been identified. The impact of technical debt on financial results and performance indicators of projects is detailed on the basis of individual scenarios. Various algorithms for the impact of technical debt on financial results and performance indicators of projects have been developed: 1) an algorithm that is associated with the need to make changes to already existing product characteristics (correction of errors, other measures) due to the threat of losses and receiving losses in the future; 2) an algorithm that is associated with the possibility of expanding the functionality of the product and its other improvement, which will potentially provide profit in the future. A methodology for evaluating the impact of technical debt on financial results and performance indicators of projects (key indicators such as net present value, profitability index and discounted payback period) has been developed.