How Do You Balance Technical Debt With Innovation?
In the fast-paced world of tech, balancing technical debt with innovation is a critical challenge. We've gathered insights from CEOs and CTOs to uncover strategies that address this balance. From adopting a modular development approach to understanding the speed and source of debt, explore the diverse perspectives of six technology leaders on this complex issue.
- Adopt Modular Development Approach
- Employ Multiple Balancing Strategies
- Align Effort with Business Goals
- Prioritize Problems and Innovate
- Leverage Technical Debt for Innovation
- Understand Speed and Source of Debt
Adopt Modular Development Approach
We manage the tension between technical debt and rapid innovation by adopting a modular development approach. Instead of building massive, monolithic updates, we break projects into smaller, incremental releases that allow us to innovate rapidly while keeping the codebase manageable. This approach minimizes the accumulation of debt by letting us tackle issues in smaller, digestible chunks without sacrificing the pace of innovation. It gives us flexibility—so we can innovate while maintaining clean, scalable architecture.
Employ Multiple Balancing Strategies
In the fast-paced world of technology and engineering, balancing the need for rapid innovation with managing technical debt is crucial for sustained success. Rapid innovation is essential for driving growth and staying competitive, but it's equally important to address technical debt to avoid future complications.
To strike this balance, I've employed several strategies throughout my career:
Modular/Microservices Architecture: By designing systems in a modular or microservices architecture, components can be updated or replaced independently. This approach minimizes disruptions and allows for continuous innovation without overhauling the entire system.
Technical Debt Management: Integrating technical debt management into the development process is key. By regularly reviewing and allocating time to address technical debt within the product roadmap, we prevent it from accumulating to a point where it could hinder future development efforts.
Parallel Development: Developing new systems alongside existing legacy systems enables a phased transition. This approach allows us to test and refine new solutions while maintaining operational stability and addressing technical debt incrementally.
Stakeholder Engagement: Open communication with stakeholders ensures that innovations align with their needs and expectations. This helps to prioritize which technical debt to address and ensures that new developments are beneficial and seamlessly integrated.
Balancing innovation with technical debt involves careful planning and ongoing adjustments. By incorporating these strategies into your development workflow, you can continuously innovate while effectively managing and reducing technical debt, ensuring both growth and stability.
Align Effort with Business Goals
The question is highly dependent upon the overall goals of the business, and how the particular product generates revenue for the business. If a product is early in the life cycle, rapid innovation will naturally incur technical debt in order to capture market share quickly and lock in growth. Later, this debt must be paid down as a percentage of effort previously dedicated to feature development. These percentages should align with top-level technology investment in revenue generation, optimization, KTLO, security, and compliance.
Prioritize Problems and Innovate
Balancing technical debt with fast innovation means fixing the most important problems without slowing down progress. Instead of tackling all the debt at once, it's better to make small improvements while continuing to build new things.
It's important to decide how much debt is okay and when to take it on for quick wins. Working together with different teams ensures everyone understands the trade-offs between fixing debt and moving fast.
Using tools like code reviews and automation helps catch issues early and prevent new debt from piling up. Regularly checking and improving code keeps the balance between innovation and maintaining quality.
At Blocktech Brew, managing technical debt carefully helps us stay flexible while pushing forward with blockchain and AI innovations.
Leverage Technical Debt for Innovation
I view technical debt as an opportunity as much as it can be a challenge. Every company has it. We all want to find better solutions. With the constraints that modern IT departments face, that technical debt can be the place where we can create new efficiency and savings, and transcend our former limitations. By taking a hard look at ourselves and our technical debt, we can create room for innovation. We can also identify great problems to solve, because every innovation begins with a need. If we can reduce that technical debt with an innovative solution, and bring it at the speed the business needs, we can really create some wins for the company.
Understand Speed and Source of Debt
It starts with creating a common understanding of what links technical debt and rapid innovation—speed. Teams can move fast when quality is high and technical debt is low. Speed enables us to maximize our learning cycles that fuel rapid innovation. So, to get the speed we desire, we need to embed quality into our development process and proactively manage our technical debt.
From here, you have to understand the source of your technical debt and create a plan to manage it. Did the team take on tech debt consciously as part of a strategy to get their product to market? If yes, add some tech debt stories to the backlog and integrate those into your product planning cycles to get to the desired speed you want.
Or, perhaps your debt results from little or no up-front design, lack of understanding of the business, bad technology selections, or poor coding practices? If yes, we need a more aggressive approach to address the biggest gaps right away if we realistically want rapid innovation.
