The Technology Roadmap: What Is It and Why Is It Important?

Technology roadmaps are a great organizational tool for any company to map out technology developments and to determine how those developments are going to change the way a company operates.

What?

A technology roadmap is defined as a planning technique to create strategic long-term and flexible plans for technology developments, adjustments and technology initiatives over time.

Basically, a technology roadmap focuses on a company’s short-term and long-term technology goals. There are three main uses for a roadmap: to reach an agreement about a company’s technology needs, to provide a forecast for technology developments and to create a framework for planning and coordinating technological advancements.

A technology roadmap can also be used as an analysis tool for a company when creating and choosing technology for new industries.

Who?

When creating a technology roadmap, it is important that many people are involved. The planning committee should include at least one person from IT, general management, product management, operations, engineering, finance, sales, legal teams and any other relevant departments. This ensures that every department has a say in what goes into the technology roadmap.

With proper planning and commitment, creating a roadmap will set up a company for successHow?

There are three phases for creating a technology map. Phase one is called the preliminary phase. This is when the planning committee is created, a clear end goal is established and the essentials for the technology map are formed. Each committee member should make their needs known during this stage by reviewing their department’s needs. Phase one is also where the committee should pay attention to where the company could improve with technology. The costs associated with the technology roadmap should also be configured during this step.  

Phase two is the development phase. As its name suggests, this is where the technology roadmap is created and developed. This is also where the committee identifies the targets and major tech areas the technology map will focus on, finding alternatives and creating a timeline for developing the technology map. It is important that multiple timelines are created during phase two because as technology changes and develops, timelines for different goals, targets and steps allow the committee to be prepared for anything.

The final phase is the follow-up phase. After the technology roadmap has successfully completed phase two, it is time to implement it. Following the roadmap’s launch, the committee needs to watch how their departments are adjusting to the plan. It is likely that various departments are going to run into issues at many different times during the roadmap’s implementation. The committee needs to pay attention to how their departments are operating with the map to determine what is working and what isn’t. If there are issues, then the committee needs to reconvene to adjust the roadmap or change to one of the backup roadmaps created during phase two.

Let’s start creating a tech roadmap!

It is important to remember that technology roadmaps are not set in stone. Technology is constantly changing and new developments are popping up every day. The roadmap committee needs to be ready to make many adjustments and edits to the roadmap as time goes on.

Being prepared for any new technology is essential for every company. Roadmaps are a great way to implement a long-term, flexible plan for technology advancements. With proper planning and commitment, creating a roadmap is a simple and easy process that will set up a company for success.

 

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