Technology valuation has traditionally been approached from an economics-based financial approach applied to project management. However, some authors have detected flaws in such approach, proposing that techniques should be included allowing technology' s qualitative and intangible aspects to be taken into account. Considering a broader definition of technology covering production systems' technological capability, this article was aimed at analysing such capability as part of technology valuation, emphasising technological resources' intangible aspects and their exploitation. The tendencies and some of the tools which have been developed for such valuation are shown, identifying the challenges involved in assessing technological capability within the context of developing countries where the creation of such capability must be promoted, implying a strategic vision of technological development.