What are the major hazards in operating a PT6 Turbine Engine?
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.