Tero-Technology

The term Physical Assets Management (PAM) is synonymous to Total Productive Maintenance (TPM) and tero-technology. It takes into account all aspects of plant machinery from DESIGN TO DISCORD, viz. Design, and Installation, Manufacture, Commissioning, Maintenance, Replacement & Removal of the plant/equipment plus the Feedback of performance for the equipment manufacturer. Tero-Technology envisages application of the combination of managerial, financial, engineering and other practices applied to physical assets in pursuit of economic Life Cycle Costs (LCC). It is concerned with the specification and design for reliability & maintainability of plant, buildings and structures, machinery, equipment. This total LCC concept enables proper equipment evaluation and selection so as to give an overall low LCC.

This gives rise to huge potential for savings in terms of cost effectiveness of replacements on considerations of whole life cycle. 'Design Audit' consists of crucial scrutiny of the designs by the operating and maintenance engineers independent of the design process so as to ensure reliability and maintainability of plant and machinery and to identify weaknesses in designs requiring modifications. The word 'tero-technology' stems from the Greek root 'terein' - 'to look after'. 'to guard over', and 'to take care of'. The principles of tero- technology as discussed above can be applied, to a greater or lesser extent, to any physical asset in any organisation, no matter what the size of degree or complexity of either asset or organisation is.