What is a technology roadmap?
A technology roadmap acts as a governing document that shows precisely how technology will impact your business plans and help you in achieving your goals. It also helps in driving your business priorities over about three to five years. Good roadmaps have the following components:
- A statement of strategic priorities for the business but they do not have to be technological strategies alone
- A timeline showing the business initiatives and projects that will take place in the next few years, with their approximated start and end dates and sizes
- A list of prioritized improvement opportunities which is prepared jointly by the IT team and business team and it should be updated periodically
- The roadmap should also have a justification for every project showing that it has been approved
- It should also contain the estimated cost for the project, the duration and the owner of the project
Image courtesy of CIO.
Why would someone create a technology roadmap?
A technology roadmap plays a vital role and is of great help to leaders as they move from one business operation to the other. It is crucial in ensuring that the business is moving in the right direction.
Who are the benefits of a technology roadmap?
The roadmap shows teams why the projects they are working on are essential and what things need to be re-prioritized. It helps in enhancing a clear communication between leaders and subordinate staff. The roadmap is tailored to structure a clear communication line between the functional project executive and the technology department in a way that lets the IT department to:
- To have a strategic plan while making decisions on projects management and investment decisions
- Have an effective negotiation with the staff and leaders if they ask for new projects
Technology roadmaps are beneficial both to technology leader and if you are not a technology executive. It is essential for all kinds of businesses that have ongoing or intend to run a project.