The main objective of this study is to examine the key aspects of technology assessment isues, which have not been preciselly defined yet. Identifying effects of the technology innovation or application always requires an interdisciplinary approach, which allows creating a more comprehensive picture/model of a particular technology. A picture of the existing technology or a model of the planned technology should be created on the basis of broader consensus within a scientific discussion. However, this process may be highly demanding, especially as far as the problem of bounded rationality is concerned. Technology assessment should be focused on systematic investigation of various real and expected effects of the technology application. This study deals with key characterization of the technology assessment methodology, and its most extensively applied methods. The research was carried out on the backgrounds of intensive study of resources, extensive analysis of the European foresight monitoring network, several discussions with experts, and last but not least several case studies.