Throughout history the development of the countries has been generated mainly by the impulse in two complementary axes: Science and Technology, and Trade. At present we are experiencing an exponential scientific and technological development and the Economy in all its fronts is driven by the intensive application of technology. According to these considerations, this research tries to expose the development of Innovation Management as a transversal mechanism to promote the different socioeconomic areas and especially those supported by engineering. To this end, use will be made of Technology Watch in order to identify the advances of the main research centres related to innovation in the world. Next, there will be an evaluation of the main models of Innovation Management and related methodologies that expose some of the existing Innovation Observatories in the world to finally make a proposal for Innovation Management applicable to the reality of Peru, so that it can be taken into consideration by stakeholders (Government, Academy, Business and Civil Society) committed to Innovation Management in the country