The knowhow of designing efficient algorithms meets the definition of a technology. This proposal is about various aspects of a parallel algorithmic technology. Given two parallel algorithms for the same problem one is more efficient than the other if: (1) primarily, its time-processor product is smaller, and (2) secondarily (but important), its parallel time is smaller. It is a primary intellectual challenge to get the fastest possible time, by a processor-efficient algorithm. The proposed work identifies several considerable challenges on which to work in the next few years. Contributions to major application domains ("Grand Challenges"), such as computer vision and comparison of molecular sequences, and deadline-driven computing, as well as to the fundamentals of the evolving technology of parallel algorithms are expected.