What is technology management? Technology management is a set of management disciplines that allows organizations to manage its technological fundamentals to create competitive advantage. It is very important for an organization to manage its technology strategically because when it is not well managed, it might result into a big loss in the organization. Managing technology involves planning, designing, optimizing, operation and control of technological products.
Technology management aims at maximizing the cost effectiveness of investments in technology development which contributes to the value of an organization. If an organization fails to plan for its technology it might encounter issues like data loss or misuse of that technology by its employees. But if the organization creates a frame work and plans for its technology, its output will increase. Below I have listed some of the importance’s of technology management: