Technology Standards
Supporting Activity Technology Standards
Why are standards important in the world of technology?
Technology standards are important for a wide array of different reasons. Of these reasons simplicity and compatibility are most likely among the prominent reasons. Simplicity and compatibility are important because they enable technologies and even industries to progress faster than they would on their own. If IBM had not set the PC standard, the development of computers, hardware and software, would not have progressed as fast as it has (Chyung, N.d.). By standardizing the industry to the most competitive format it has allowed for many different companies to operate on the same platform.
There are some organizations that can gain a market edge by maintaining proprietary technologies that can achieve compatibility in alternative ways. In markets that exhibit network effects, the presence of digital conversion technologies provides an alternative mechanism to achieve compatibility (Liu, Gal-Or, Kemerer, & Smith,...
Yet for most companies in most industries, standardization can play a pivotal role in providing efficiency. The heads of IEC, ISO and ITU have all emphasized: "International standards are powerful tools for helping organizations capitalize their potential in the global marketplace; developed by experts from around the world, they contain internationally harmonized best practice which can be used to measure, compare and increase efficiency and reduce waste (Frost, 2012).
During the initiating phase of a project, the foundation is laid by getting the objectives and purpose for the project stated clearly, doing needs analysis, and creating a statement of work with the stakeholders.
The Project Initiation Phase is the 1st phase in the Project Management Life Cycle, as it involves starting up a new project (Method, N.d.). Of all the phases in the project management life cycle, this one could be the most important. Planning a project entails a series of decisions, from general and strategic decisions to specific operational ones, based…
