Introduction to Technology Evaluation / Assessment

Technology evaluation is a set of principles, methods and techniques/tools for effectively assessing the potential value of a technology and its contribution to a company, a region or an industrial sector. It is one of the most significant methodologies in innovation and technology transfer, utilised in screening new ideas, assessing innovative or not innovative products and technologies. It is a powerful technique for an organization in examining new ideas, identifying and analyse causes or potential change, develop and plan possible solutions, and finally select and implement a proposed technology.

Technology evaluation may be understood in a variety of ways:

• As a group of studies, which systematically examine the effects on society that may occur when a technology is introduced, extended or modified. It emphasizes those consequences that are unintended, indirect or delayed.
• As an attempt to establish an early warning system to detect, control, and direct technological changes and developments so as to maximize the public good while minimizing the public risks.
• As a process of analysing alternative technologies that provides information and help the actors involved in developing their goals. A thorough evaluation assesses the technology and its device's value from technical, market and consumer perspectives and reconciles the results within a valid methodology.