Today, managers have come to this understanding that technology is the main source of competitive advantages and also growth in firms, hence it must be taken into consideration. Although Technology Management (TM) has become popular in the management area and many frameworks have been proposed, a practical framework and management tool is not available yet. To this point, Dynamic Capabilities Theory (DCT) has been utilized to introduce a TM framework in technology-based firms by focusing on the creation of the dynamic capabilities’ flows. This article aims to clarify TM activities in DCT context, and moreover tries to determine relationships and interactions among TM, Knowledge Management (KM), and Innovation Management (IM) concepts. By reviewing TM frameworks proposed by different scholars an integral and appropriate framework based on Cetindamar’s et al. (2010) is suggested for technology-based firms. By considering that each of TM activities (Acquisition, Exploitation, Identification, Learning, Protection, and Selection) can create a specific dynamic capability ,six TM tools namely, Patent Analysis, Portfolio Management, roadmapping, S-curve, stage-gate, and Value analysis are described to implement TM activities. These six TM tools and the six TM activities could be a well starting point to apply TM in firms.