The Technology Management

The technology management is the type of the management and a set of management disciplines that let the organizations to manage their technical fundamentals in order to create the competitive advantages. There are many types of the concepts that can be used in the technology management. The typical ones include the technology strategy, technology forecasting, technology roadmap and technology project portfolio. The technology strategy includes logic or reason along with the role of the technology in the organization. The way one can make use of the technology in the organization is also discussed in this case. The technology forecasting refers to the identification of possible relevant technologies that can be used for the organization mainly with the help of the technology scouting.

The technology roadmap indicates the mapping technologies to the needs of the business and market. The technology project portfolio is the set of the projects that are under development and technology portfolio which includes the set of technologies that are in use. The role of the technology management function is to understand the value of the different types of the technology for the organization. The continuous development of the technology is precious until there is a value for the customer. Hence the technology management function in an organization should be argued about the investment on the technology development and the time when to withdraw the investment as well as the attention for the development of the technology. The technology management is defined as the design, integrated planning, optimization, control and operation of technical products, services and process. The other better definition for the same is the usage of the technology usage for the improvement or the betterment of human advantage.

It is the field that is connected with the supervision of the personnel across the technical spectrum and large variety of the technological system. Technology management includes the instruction in operation and production management, quality control and computer application, statistics and general management principles. The main authoritative input for the understanding the technology is the diffusion of innovations theory which was developed in the first half of the twentieth century. It explains the reason of all innovations to follow a same kind of the diffusion pattern. The best known in the today’s time is in the form of‘s’ curve which is originally based upon the concept of the standard distribution of the adopters. The four main phases of the technology life cycle are growth, emerging, aging and mature. These all four phases are altogether coupled to increase the levels of acceptance of innovation in any case of the new technology. The inverse curve is postulated that corresponds to the declining cost per unit. It may not be true universally. The other major contribution to this area is the capability maturity model of Carnegie Mellon. The model explains that series of progressive capabilities can be quantified with the help of the threshold tests. These types of tests determine definition, optimization and repeatability. Hence this theory explains that any type of the organization must be the master of the level before moving to the next one. The other important contribution is the hype cycle that suggests about the modern approach in marketing technology. These fundamentals concept provides a foundation to formalize the approach to manage the technology.