Terotechnology
Terotechnology is the technology of installation, commissioning, maintenance, replacement and removal of plant machinery and equipment, of feed-back to operation and design thereof, and to related subjects and practices.
Terotechnology is the economic management of assets. It is the combination of management, financial, engineering, and other practices applied to physical assets such as plant, machinery, equipment, buildings and structures in pursuit of economic life cycle costs. [1]
It is concerned with the reliability and maintainability of physical assets and also takes into account the processes of installation, commissioning, operation, maintenance, modification and replacement. [2]
Decisions are influenced by feedback on design, performance and costs information throughout the life cycle of a project. [2]
It can be applied equally to products, as the product of one organization often becomes the asset of another. [2]
References
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