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.<
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