Using Technology Classification and Qualification Status as a Tool for Strategic Technology Screening and Selection

Abstract

Abstract Technology Qualification (TQP) is the process of providing the evidence that a technology will function within specific operational limits with a specified level of confidence. A complete Technology Qualification is often initiated only once a Major Capital Project (MCP) has made a commitment to using the technology. At that stage of development, the TQ tools are used to manage the progression of the technology through the technology development stages (or technology readiness levels) and track the progress against the technology risk register and project schedule. The focus of this paper is how the TQ tools set can be adapted and applied much earlier during the technology planning stage to determine possible opportunities for deployment. Early high-level risk assessment of new technology or new technology use can be very beneficial to non-technical communication of the technology risk to project decision executives. Using modified TQ tools to map out a clear technology road map for a MCP with both critical path as well as some of the possible fallback options provides a concise summary of the technology risks and landscape to the decision maker. Consistent application of these formats enables better business decision making. Although the focus of the paper is on the conceptual and process level, some limited examples demonstrating the value of the approach will be provided.