To be effective, technology management must converge three factors: technological, human and organisational. Only a perfect convergence enables technology leaders to turn challenges into advantages, disrupt industries and implement strategic organisational changes to create a competitive advantage.
This guide caters to both professionals seeking to refine their skills and aspiring individuals exploring educational paths in this dynamic field. Split into four parts, it covers key areas and skills, career advancements, types of educational programs (and how to choose the relevant one!) and essential resources for existing and future technology managers.
At its core, technology management is the strategic planning, development, implementation, operation and control of technology to achieve an organisation’s goals.
According to Gartner, worldwide IT spending was projected to total $4.6 trillion in 2023, representing an increase of 5.1% from the previous year (2022). This growth was driven by strong demand for IT as enterprises continue to invest in digital business initiatives in response to economic turmoil. In other words, there is no single segment of any industry that does not have technology deeply ingrained into operations.
Here’s a breakdown of the spending across different IT segments in 2023:
Interestingly, CEOs and CFOs are increasing spending on digital business initiatives despite economic challenges, making enterprise IT spending relatively recession-proof. Additionally, organisations are focusing on efficiency-driven digital investments to reshape revenue streams and enhance existing products and services. The rise of disruptive technologies like artificial intelligence and automation, and growing concern about security make effective management crucial. Consequently, this creates a demand for high-skilled technology managers.
There is a 15% increase in job postings for executive leadership and a 6% increase for operations roles. Nearly a quarter of new technology positions in 2023 offered hybrid work arrangements, and an additional 17% were fully remote.
In 2024, IT services are expected to grow further, becoming the largest segment of IT spending for the first time, with an anticipated 8.7% increase, reaching $1.5 trillion. These trends highlight the continued importance of having skilled technology leaders not only in operations but on Boards as well.
And here is a vivid example of the effective use of technology in operations whose complexity proves the necessity for continuous personal and professional growth.
Amazon, like many other businesses, faces several challenges in supply chain management:
But their ability to adapt and implement effective strategies turns out to be crucial for maintaining efficient operations. So how do they do it?
Amazon, as a global e-commerce giant, relies heavily on technology management to optimise its logistics and supply chain processes:
1. Fulfillment Centers and Inventory Management:
2. Order Processing and Last-Mile Delivery:
When a customer places an order, Amazon’s technology kicks into action:
3. Advanced Tracking Systems:
4. Just-in-Time Inventory Management:
5. Warehouse Management Systems (WMS):
6. Amazon Robotics:
7. Delivery Innovations:
As you can see, Amazon’s technology management ensures seamless order processing, efficient inventory handling and timely deliveries. Their relentless focus on innovation and data-driven decision-making keeps them at the forefront of e-commerce logistics. But in the background of this seemingly automated operation, there is a group of technology leaders laying down strategies and tactics, ensuring that the supply chain remains unbroken.
Breakdown of the key steps:
1. Define business goals and objectives
2. Assess the current technology landscape (infrastructure, applications and processes)
3. Develop a Technology Roadmap
4. Evaluate technology solutions
5. Implement and integrate new technologies
6. Measure and monitor
Remember, this is an ongoing process that requires collaboration between leaders of different departments.
The three most used methodologies in IT project management are definitely:
Of course, the choice depends on the specific project characteristics, requirements and complexity. Waterfall might be suitable for a well-defined system with minimal change expectations. Agile is ideal for projects with evolving requirements and a need for continuous user feedback. CPM can be used in conjunction with either methodology to ensure efficient scheduling and resource allocation.
Key steps involved in the process:
1. Risk identification
2. Risk assessment
3. Risk mitigation strategies
4. Risk management plan
5. Communication and monitoring
There are two types of infrastructure management:
1. Physical
2. Digital
As a technology manager, you must maintain thorough documentation of the entire IT infrastructure, including hardware specifications, network configurations, software versions and disaster recovery procedures.
Additionally, you must also establish and maintain strong relationships with key technology vendors to not only ensure timely support but, more importantly, to stay updated on vendor product roadmaps so you can plan for future infrastructure needs.
The question now is, how do you allocate resources?
The foundation here is matching skills to tasks. Fail to do this and you’ll affect efficiency and quality of work.
Now, as we all know, tasks are piling up 9-5, day after day. How do you ensure that the project stays within the schedule? You employ the above-mentioned Critical Path Method (CPM) to a) identify the most time-sensitive tasks (the critical path), and thus, b) allocate resources accordingly. Here, you can also utilise frameworks like the Eisenhower Matrix (Urgent/Important) to categorise tasks and allocate resources based on their criticality and urgency.
The next thing you want to do is the so-called, resource levelling. This is the strategy that smooths out resource demands throughout a project to avoid overloading team members at specific points and maintain a consistent workflow.
To further maximise the output and prevent breaching deadlines, use resource smoothing. This is somewhat similar to levelling, only in this instance, you are prioritising the reduction of overall resource usage by shifting tasks (!without impacting deadlines).
TIP: If and when necessary, use temporary workers, contractors or freelancers to address specific resource needs without long-term commitments.
A comprehensive set of technology policies and procedures provides a framework for responsible technology use and reduces legal and security risks.
These policies should be communicated to all employees, regularly reviewed and updated to reflect evolving technologies and regulations. Here are some key policies and procedures that ensure technology is used responsibly and adheres to regulations:
Acceptable Use Policy (AUP)
Information Security Policy
Data Privacy Policy
Bring Your Own Device (BYOD) Policy (if applicable)
Change Management Policy
Software Licensing Policy
Monitoring and Auditing Procedures
Regulatory Compliance Policy
Such an array of responsibilities calls for a particular skill set, different from the one that, for instance, makes a good CEO or CFO. Technology managers are an entirely different kind of beast.
Even though some CTO roles do not require a typical background in technical skills, as a rule of thumb, technology managers should, at the very least, possess skills relevant to their specialisation (ie, cloud computing fundamentals for those managing cloud infrastructure; cybersecurity principles for those focusing on data security).
But since we are talking about leadership here, soft skills are also crucial for all technology managers and they include:
Now, how do you acquire such a skill set?
Let’s say that, at this moment, you work as a tech lead, slowly making your way to a technical leader role to, ultimately, become a Chief Technology Officer. It may come as a surprise to you, but this path can be extremely short as some of our members experienced.
So the only way to develop skills on short notice is to learn from experts in fields you are about to tackle. For your reference, there are 9 of them:
Each of these fields is further broken down into an average of 20 subfields. For example, in Leadership and Teambuilding, you don’t only want to learn how to build and manage a team but also what type of leader you are. When you turn to Business Fundamentals, you want to learn what drives the organisation and its commercial strategy. To set and align the Technology Strategy, you must first understand value drivers. And so forth…
Now, consider the faculty requirements of such a program…we are talking about a wide range of seasoned experts, ideally with coal on their faces so they could give you those vital yet little-known tips that make or break your career.
To the best of our knowledge, there is only one technology management program with 13 senior technology leaders delivering lessons – 9 CTOs, 1 Group CTO and 3 VPs of Engineering. They are part of this massive faculty of 40 lecturers that turned every single stone on your future career path so you don’t trip. (you can personally check close to 70 reviews students left on Trustpilot so far).
But MBAs are just one part of the equation. The second, equally important, is having peer support and (live) mentoring; specifically, the ability to ask critical questions on the go and receive immediate actionable advice from a fellow tech leader who has been in your situation.
The demand for technology managers varies across different industries, and understanding these dynamics can help you make informed decisions about your career path. So here are some insights first:
Automotive Industry:
Chemicals Industry:
Financial Services Industry:
Life Sciences Industry:
Other Industries:
The big question now is what industry or field best fits your core skill set? More importantly, in which area do you need to improve?
Requirements: Objective self-assessment.
STEP 1 – Write down these six core tech leadership skills skills and rank yourself (1-5) on each skill:
STEP 2 – Identify strengths and areas with the most growth potential.
STEP 3 – Self-discussion questions:
STEP 4 – Challenge
Pick one ‘growth’ skill and commit to one specific action to improve it in the next month.
To gauge and benchmark your current strengths and weaknesses against the hundreds of global tech leaders who’ve already completed the process, complete our Skills Assessment.
The results will include vital recommendations that help you connect your skills assessment results with the desired career path in technology management.
Showcase your skills and expertise:
Effective career planning:
Interview preparation tips:
Practice effective responses for interviews
STEP 1 – The STAR Method:
STEP 2 – Highlight soft skills and leadership experience
STEP 3 – Research the company and industry trends
STEP 4 – Conduct mock interviews with friends, colleagues, or career counsellors
STEP 5 – Tailor your responses
1. Bachelor’s degrees in technology management or information technology
These programs provide a foundational understanding of technology, business principles and their intersection. They are commonly covering topics like:
These programs effectively prepare graduates for entry-level technology management roles or further graduate studies.
2. Master of Business Administration (MBA) with a specialisation in technology management
Unlike bachelor’s degree programs, Technology MBAs cater to professionals with existing business experience seeking to deepen their technology management knowledge. The curriculum often includes:
These academic programs equip you for leadership roles in technology management at a strategic level.
3. Short-term certificate programs focused on specific tech areas
Certificate programs offer targeted training in specialised technology management areas like:
These are ideal for professionals seeking to upskill in specific areas or transition into a new technology management niche.
Sites like Coursera, edX or Udemy offer elective courses that cover a range of industry specific and technology-relevant curriculums.
When choosing, consider these 7 factors:
Take a moment to review CTO Academy’s Digital MBA for Technology Leaders which checks all seven boxes.
Now, you might just feel like a natural leader and avoid formal education altogether. Rest assured that such a decision comes with consequences.
To gain a deeper understanding of technology management principles, you need formal education because it provides a structured learning experience that results in a comprehensive understanding of technology management theories and frameworks.
However, the more important part of formal education is networking opportunities with peers and industry professionals. Lecturers and fellow students can offer career guidance and industry insights. Don’t forget that a CTO who lectures you on Technology Roadmaps already made a few of those and is most likely in the process of making a new one. Also, quality programs organise networking events quite often. This allows you to expand your reach and learn new tricks from seasoned professionals and former alumni.
And then, there is increased earning potential and career advancement possibilities.
For years now, IT professionals across experience levels have been earning a higher average salary compared to the average across all jobs. In the US, computer and information technology (IT) professionals had a median salary of $100,530 in May 2022, significantly more than the average salary for all occupations ($46,310).
Factors influencing salary include experience, skill set, location, education level and certifications. In other words, higher education levels are linked to higher incomes. For example, those with at least a bachelor’s degree made a median income of $1,608 per week in the fourth quarter of 2023, compared to $917 per week for high school graduates.
Completing an MBA or earning a bachelor’s degree showcases your commitment to the field effectively opening doors to senior leadership positions.
Professional organisations:
Organisations such as AITP and SIM offer valuable resources like industry publications, networking opportunities and professional development events.
Relevant industry publications and blogs:
Training institutions:
These institutions offer program search tools.
TIP: Always consider factors like program accreditation, faculty expertise, and alumni success stories when researching specific institutions.
Success in technology management depends on a perfect blend of technical knowledge, strong leadership skills and business literacy. Here’s a quick recap of the essentials:
Technical Skills:
Soft Skills and Leadership:
Business Skills:
The combination of technical expertise, leadership qualities and business acumen enables technology managers to effectively bridge the gap between technology and business objectives, driving innovation and success.
However, neither drops from the sky. You may have a strong technical background but you are most likely missing some of those soft skills. Maybe you have both, but how good are you with budgeting and resource allocation?
That’s why we always emphasise the need for constant professional development. It is the only way to build successful careers in this dynamic and, most importantly, rewarding field.
In case you want to discuss your career path and optimal training, feel free to book a free consultation call. It is an opportunity to get objective advice based on your current situation and plans.
90 Things You Need To Know To Become an Effective CTO
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