All projects acquire technical debt in one fashion or another, and in varying quantities. I've been looking at a couple past projects to identify areas in need of some debt repayment should the projects move into their next phases.
Apropos, then, that I ran across a great post from Steve McConnell on technical debt. I particularly like his sections on communicating about technical debt and debt safety. Be sure to follow Steve's links to Ward Cunningham's and Martin Fowler's articles.