Technology consists of the set of methods and tools we use to develop the ultimate product. Technology has existed since the time of the agrarian hoe and plow, and it is constantly evolving to support the needs of the developer. Better tools and methods contribute to improving effectiveness and efficiency as one of the primary attributes of the Effectiveness Formula.
Technology was the primary focus in the 1960s, when the software development discipline was new. The early 1970s brought a shift in focus to the development process. In the mid-1980s, the Software Engineering Institute introduced the SEI Capability Maturity Model (CMM)  as an approach to stabilize the development process, improving quality and productivity by focusing energy on process improvement. Process is still classified as a development tool, like any of the technologies that preceded it.