lecture notes

Topics: Management, Strategic management, Innovation Pages: 0 (5250 words) Published: August 31, 2014
Technovation 26 (2006) 336–344

Technology management tools: concept, development and application Robert Phaal*, Clare J.P. Farrukh, David R. Probert
Institute for Manufacturing, University of Cambridge, Mill Lane, Cambridge CB2 1RX, UK

Effective systems for managing technology in complex business environments require integrated sets of management tools and processes, underpinned by well-founded conceptual frameworks. Understanding how such systems operate, and how best to implement them, represents an ongoing challenge, especially considering the multidisciplinary and multifunctional nature of technology management. This paper describes the development of a technology and general management tool catalogue, which focuses on the ‘matrix’ class of tools, classified into four generic types. The practical development and application of such tools is discussed, illustrated by two case examples. q 2005 Elsevier Ltd. All rights reserved.

Keywords: Tools; Matrix; Roadmapping; Portfolio; Technology management; Decision support

1. Introduction
Industrial and academic interest in how to more
effectively manage technology is growing as the complexity, cost and rate of technological innovation increase, at a time of increasing organisational and industrial change on a global scale. Emerging technologies, such as nanotechnology, biotechnology and information and communications technology provide significant opportunities for enabling

innovation, profit and growth, but also present a potential threat to firms’ existing activities.
Technology management is a challenging topic, in terms
of both theory and practice, owing to its multidisciplinary
and multifunctional nature. A number of disciplines are
relevant from the academic perspective, such as science,
engineering, economics, sociology and psychology. In
business, contributions from both the commercial and
technological functions are critical if innovative...

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