A technology audit: key to technology planning

The technology possessed by an organization may be even more valuable than the resources evaluated in a financial audit. What technology does an organization possess, both product and process? How much of it is the same technology the organization´s competitors possess? How much of it gives the organization a competitive edge? How much of it will provide a competitive edge in the future? Is the technology on which the organization depends for competitive status verging on obsolescence? A technology audit is intended to evaluate the state of the organization´s technology resources. These can be classified as base technologies, possessed by every firm in the industry, key technologies those which provide the firm with a competitive edge, and pacing technologies (those needed to provide a competitive edge in the future). This paper presents a methodology for conducting a technology audit. The paper identifies the critical issues which must be addressed in a technology audit. A systematic procedure is then presented for identifying the technologies involved in the organizations products and processes. Methods for evaluating these technologies for competitive status are then described. Finally, a method is presented for preparing a profile of the organization´s technological status