Technical Management is one of the three primary ITIL functions that are defined in the Service Operation volume of the new ITIL v3.
A function is a concept that can be used to describe a collective of people, process and tools that carry out a specific activity, task or process
Technical Management as a function in an IT environment refers to the people and teams that provide expert advise and support for the IT infrastructure.
Technical Management can be thought of as actually doing a lot of the activities and work that is defined in a given process. They will also work with suppliers as Technical Management personnel have the required skills to truly understand and communicate with suppliers.
Technical Management deal with events, incidents and provide the resources for problem management. They assit with evaluation of proposed changes and can define the financial variables that are required to support the IT infrastructure.