MS in Technology Management Blog

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  • MS-Technology Practicum Management

    MS-Technology Practicum Management

    I remember that when I was applying to MSTM program I didn’t understand what MS Tech Practicum was. So for future MSTM's students I would like to share with you how the Practicum has been developing so far.

    Basically during the MS-Technology Management Practicum students form teams and use their combined acquired knowledge and experience to evaluate or develop a commercialization strategy for a technology from nascent technology companies.

    At the moment all teams are formed and ready to provide consulting services to their respective companies. The first round of interviews between teams and their clients are already set so this challenge has just started. However, the process to create these teams from a group of more than 50 qualified students with different backgrounds and work experience was quite interesting.  First, Professor Jeffrey Kurtz asked for voluntary students who wanted to be Project Manager (PM) of their team to send him their resume and then he would interview each applicant. Two weeks later, Professor Kurt announced the PMs after deciding meticulously which of all qualified applicants would be the best PMs.  Since this moment PMs started to play their role, now they had to choose their team members but through a very interesting method. Each PM had a budget of $100,000 and they had to bid for their team members. The PM that bid for one student the most would have him/her in his/her team.  In the same way, the rest of the students could rate the PMs as which PM would be their first, second, third and so on option to be their PMs.

    From that moment was when the game started because as you know in every classroom there are some students brighter than others, thus PMs would bid for them more money. However PMs had to know if these bright students wanted them as their PM because if the student rated the PM low, the money invested wouldn't have the same weight as if he/she would have rated the PM as his/her first option. I think that was a stressful week for the PMs but at the end all teams were formed with a very good distribution of the students based on their expertise and background.

    I am thrilled that this project has just started as well as the rest of the students. I know the clients will be more than satisfied with our services and that one of these technologies would become in a game-changing technology.

    I leave you with the some websites of our clients:

    http://www.cazoodle.com/

    http://otm.illinois.edu/

    www.illumia.org

    http://www.infobright.com/

    http://www.ncsa.illinois.edu/

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