World over, companies spend every year more than $1 trillion on managing their technologies. A formal definition of technology management is still very subjective and not readily available. A simpler definition - Technology Management is a set of management disciplines that allow corporate to manage their technological fundamentals to create a competitive advantage. It feels more educational than practically oriented or originated.
A more formal definition from the Association of Technology, Management, and Applied Engineering (ATMAE), defines Technology Management as the field concerned with the supervision of personnel across the technical spectrum and a wide variety of complex technological systems. Therefore, Technology Management training programs typically include instruction in production and operations management, project management, computer applications, quality control, safety and health issues, statistics, and general management principles. This definition feels more tactical as it focuses on supervision rather than strategic direction the technology management must provide.
While Technology Management has been also 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. This is a more customer centric definition.
Is it Technology or R&D Management?
Managing Technology is achieved through R&D team and its interfacing inside and outside the company to optimize the return on investment in R&D. Thus the terms Technology Management and R&D management are used many times interchangeably to talk about similar things. These two are different, in the fact that R&D management has more administrative and operational nuances, over and above technology management. We will focus here mostly on technology management.
While globally, technology management spends more than $1 trillion per year and growing, yet, it is not taught as a formal competency in most graduate schools. Some MBA schools offer few weeks long courses aimed at executive management. Similarly, while there are enterprise applications for sales to customer relationship management, there is not a single end-to-end technology management at enterprise level.
At JamBuster, we believe that there is a critical need for a unified framework for technology management. Furthermore, such a framework needs to be made available to practicing technologists and technology mangers in an easier way. To further this cause, JamBuster is beginning below, an attempt to provide comprehensive resources for technology management. Please Contact Us to know more.