What are the major hazards in operating a PT6 Turbine Engine? I am just in the process of doing a bit of study in the hope of doing my Basic Gas Turbine Endorsement in the next few months, and just wanted some feedback/comments/discussion on the major hazards associated with starting, managing and shutting down a PT6 Turbine Engine (PT6 as it is the most common used Turbine Engine on an aircraft I will touch for this endorsement).

Mainly, what I am looking at is during the start - If the EGT raises above the evil 700* mark, what is the best course of action to prevent "melting the turbine"?

During Climb/Cruise Operation - What are the most common failures, and their indications?

Maintenance/Shutdown - What are the most common methods of recording Cycles? By landing or by Start/Shutdowns?
You MUST NOT allow the EGT or ITT (whichever is applicable) temperature limit to be exceeded in any turbine engine. If it gets close to occurring during start on a PT-6, you need to abort the start by stopping fuel flow into the engine, then conduct the appropriate checklist for an aborted start. Unlike the Honeywell / Garrett TPE single-shaft engines, the PT-6 normally won't get close to the temperature limit on start. The Garretts I used to fly in Metroliners had to get right next to redline and stay there on every start. One reason that PT-6 engines are so much more relaxing to fly.
On takeoff / climb, just don't exceed the maximum temp limit; regulate the power lever(s) to keep below it. I've never had a failure of a Pratt except for bleed air leaks.
Airlines count cycles as a start, flight, and shutdown. If one of these did not occur, you did not have a cycle.