Technology Management is a body of science linking science, technology, engineering and social sciences including management for the purpose of building technological capability for running of an organization in order to achieve strategy objectives/goals. It involves the application of management skills to the discovery, development, operation and proper use of technology.
“A technology is any systematized practical knowledge, based on experimentation and/or scientific theory, which is embodied in productive skills, organization, or machinery”.
Technology management aims at planning and developing the technological capabilities of an organization or a nation, now occupied the centre stage of decision-making.
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 roadmap (mapping technologies to business and market needs), and
- 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 is to understand 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 managers help to create value for the organization by using technology and other resources to solve problems and improve efficiency and effectiveness.
Managing technology is a method of operation that leverages human resources, technology and other business assets by optimizing the relationships between the technology functions of the business enterprise. It is the process of integrating science, engineering and managing with research, development and manufacturing in order to meet the operational goals of the business unit effectively, efficiently and economically. It includes managing the totality of the technology operations from concept through commercialization.
Technology management is being taught at graduate levels at African Institute of Science, Policy and Innovation, Obafemi Awolowo University, Ile-Ife, Osun State. The degrees awarded include;
- Masters in Technology Management (Executive)
- Masters of Science in Technology Management (MSc.)
- Doctor of Philosophy in Technology Management (PhD.)
Modules Taught among many others:
- Technological Economics,
- Strategic Management of Technology,
- Advanced Technology Policy,
- Managerial Accounting and Engineering Economy,
- Quantitative Methods in Decision Making,
- Technical Entrepreneurship and Venture Management,
- Science, Technology and Society
- Research and Development and Innovation Management
- Research Methodology and Statistics,
- Maintenance Planning and Management,
- Production Technology Management,
- Advanced Manufacturing Technology, etc.
About the Contributor.
This piece was contributed by Ilori Olatunji O. PhD. He is an Assistant Manager, Procurement at Japaul Oil and Maritime Services Plc. He holds PhD. degree in Technology Management at the African Institute for Science Policy and Innovation, Obafemi Awolowo University, Ile-Ife, Nigeria.
He also holds his MSc. Degree in Technology Management from same institution, and BTech in Food Engineering from Ladoke Akintola University of Technology, Ogbomoso, Nigeria. His areas of research interest are in Industrial Production and Innovation Management, Continuous Improvement Process, Engineering Asset Management, Supply Chain Management among many others. Connect with him on LinkedIn
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