Technology Management
- [Heidelberg University]
- Overview
Technology management is a group of management disciplines that allow organizations to manage their technology base to create customer advantage. Being a future-ready leader is about managing both technology and people with excellence. That’s the MIT way.
Typical concepts used in technology management are:
- Technology strategy (the logic or role of technology in an organization),
- Technology forecasting (identification of possible relevant technologies for the organization, possibly through technology reconnaissance),
- Technology roadmaps (mapping the technology to business and market requirements), and
- Technology Portfolio (a set of projects under development) and Technology Portfolio (a set of technologies in use).
The role of the technology management function in an organization is to understand the value of certain technologies to the organization. Continued development of technology is valuable as long as it is valuable to customers, so the technology management function in an organization should be able to argue when to invest in technology development and when to exit.
- The Six Pillars of Technology Management
Technology management is a combination of scientific, engineering and management knowledge and practice, a technology-centric approach to wealth and value creation.
- Pillar 1: Critical Thinking - Analyze evidence, consider alternative solutions, and solve complex problems.
- Pillar Two: Systems Thinking - Understand how the components of a system interact with each other, identify interdependencies, and solve more problems.
- Pillar 3: Creating value through emerging technologies - Evaluate which technologies can solve your problems and pay off.
- Pillar 4: Radical Innovation - Building ground rules for exponential growth.
- Pillar 5: Organizational Strategy - Determine how technology affects your organizational structure and strategy.
- Pillar 6: Leadership - Mobilize the people and resources needed to achieve breakthrough performance.
- Technology Integration: Turning Great Research into Great Products
Technology integration is the method companies use to select and improve the technologies used in new products, processes or services.
Access to great research is very important, but if a company chooses technologies that don't work well together, it can end up producing products that are difficult to manufacture, delay getting to market, and fail to serve its intended purpose.
An effective technology integration process begins at the earliest stages of research and development (R&D) projects and provides a roadmap for all design, engineering, and manufacturing activities. It defines the interaction between the field of research and the field of manufacturing and product application.
- Technology Roadmap
A technology roadmap itself involves mapping the different ways a technology will be used.
This concept places planning at the center of technology management. Both technology strategy and technology roadmap can play a role in a technology roadmap.
For example, a company whose technology strategy is to build on existing technologies will need to start developing short-term and/or long-term goals for such technologies.
A technology roadmap is necessary to identify the different technologies that can be used.
According to market demand, the company's map will vary greatly.
Roadmaps are primarily applied to new product development, especially the nebulous front end of development—a moniker reserved for the conceptualization phase of new technologies.
- Technology Project Portfolio
The Technology Project Portfolio contains all the technology projects the business is developing and all technologies currently in use.
Beyond just launching a portfolio, your business needs to analyze and consider its results.
Technology management's role in building a product portfolio includes recognizing its strengths and weaknesses, setting priorities, and assigning resources, among other functions.
Businesses use technology project portfolios to make smart investments and capitalize on the returns.
- New Product Development (NPD)
Many key concepts of technology management contribute directly to product development. The front end of development is where ideas are formed.
New Product Development (NPD) is divided into five phases:
- Idea generation
- Filter
- Development concept
- Product development
- Roll out
Idea generation can lead to a stream of interesting project proposals for your company. The technology roadmap begins at this point.
Next, the screening considers prior knowledge and relevant research related to these ideas. By soliciting input from consumers and business partners, technical forecasting proved critical to successful screening.
Concept development starts with a SWOT analysis to identify the strengths, weaknesses, opportunities and threats of a new product.
The operation is aligned with the technology portfolio and strives to understand potential profits and losses.
Product development and launch are defined phases of NPD. Your business' expertise in NPD will be a determining factor in how durable your products will be in an ever-changing marketplace.
Despite this, technology also has the ability to carry out effective advertising.
