15. Technology Management: Case of the Internet of Technologies and Smart City

The omnipresence of engineering and technology in today’s world is undeniable. Technology creates continuous change and opportunity, but also presents challenges and threats in many aspects of daily life. Because of the need to mitigate risks while optimizing opportunities, managing engineering and technology has become a priority for companies, organizations, governments and individuals. The Internet of Things (IoT) is one result of this constant evolution of technology. It describes a system where items in the physical world, and sensors within or attached to these items, are connected to a global network of items via the Internet. Progressive cities that have embraced technology in their development have also helped develop the concept of a Smart City, an integrated urban system based on smarter infrastructure driven by technology. Our aim is to analyze, using a technology management approach, different ways that IoT will help improve urban transportation efficiency in smart cities, traffic management and parking. We conduct a literature review and a multi-criteria analysis based on the STEEP perspectives. Additionally, we will provide suggestions on promising practices to help cities improve transportation efficiency. Through our research and analysis of literature, we conclude that effectively leveraging the promise of IoT in smart cities, with respect to traffic management and parking, urban planners and policy makers must include the following activities: identify current technology and trends in parking and traffic management; identify problems or challenges that need to be solved through the integration of IoT and urban mobility planning; identify primary considerations from each of the STEEP perspectives; and communicate how effective management, (of the STEEP perspectives), plays a crucial role in successful implementation of smart city growth.