Terotechnology is an interdisciplinary approach that combines engineering, management, and financial techniques to optimize and maximize the lifecycle performance and cost-effectiveness of assets and systems. It encompasses the systematic planning, implementation, and control of all activities related to the acquisition, operation, maintenance, and disposal of assets in order to achieve the desired level of reliability, availability, and performance throughout their lifecycle.
The main objective of terotechnology is to strike a balance between the cost of owning and operating an asset and the performance levels it delivers. It involves evaluating the whole life costs of an asset, including the initial investment, maintenance, repair, improvement, and disposal costs, as well as the associated risks and benefits. By considering all these factors, terotechnology aids in decision-making processes regarding acquisition, operation, and maintenance strategies.
This approach involves a comprehensive understanding of technical and engineering aspects, financial principles, risk management, planning, and control. It heavily relies on data and information gathered from various sources, such as asset management systems, maintenance records, failure data, and financial records.
Terotechnology is widely employed in industries where assets play a crucial role, such as manufacturing, transportation, energy, and infrastructure. Its application helps organizations reduce overall costs, optimize asset performance, minimize downtime, and increase the reliability and availability of critical assets. By adopting terotechnology principles and practices, businesses can make informed decisions, achieve better asset management strategies, and ultimately enhance their operational and financial outcomes.
