COMMERCIALIZING NEW TECHNOLOGY .1.

The key to more effective technology development is improving its unde rlying management process. While similar in some ways to the managemen t process for product development, technology development has some sig nificant differences. Technology development can be viewed as a techno logy pathway bounded by two important concepts: sensed technology at t he start and the technology feasibility point at the end. An integrate d process, called TRAC, for managing technology development along this pathway, consists of four elements: a technology review process, a te chnology development team, a Senior Review Committee and a structured methodology. While similar to process for managing product development in some ways, TRAC has critical differences that accommodate the uniq ue characteristics of technology development.