Technology Management

Technology Management is set of management disciplines that allow organizations to manage its technological fundamentals to create competitive advantage. Typical concepts used in technology management are technology strategy (a logic or role of technology in organization), technology forecasting (identification of possible relevant technologies for the organization, possibly through technology scouting), technology road mapping (mapping technologies to business and market needs), technology project 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 understands the value of certain technology for the organization. Continuous development of technology is valuable as long as there is a value for the customer and therefore the technology management function in an organization should be able to argue when to invest on technology development and when to withdraw. Technology Management can also be defined as the integrated planning, design, optimization, operation and control of technological products, processes and services, a better definition would be the management of the use of technology for human advantage.

IT Management is the discipline whereby all of the technology resources of the firm are managed in accord with the company’s needs and priorities. Those resources include tangible investments like computer hardware, software, data, networks and data center facilities, as well as the staffs who are hired to maintain them. Managing this responsibility within a company entails many of the basic management functions, like budgeting, staffing, organizing and controlling, plus aspects that are unique to technology, like change management, software design, network planning, tech support and others.