Terotechnology : An Engineer's Overview

Terotechnology is a tool for cost effective performance of an organisation. It's overall objective is to obtain the best value for money spent on production venture at all stages i.e. to optimise within its own system which requires the existence of physical resources capable of meeting the quality and quantity demands of production at minimum whole-life cost which in turn is the sum total of

(i) the initial capital cost,

(ii) the maintenance and repair cost, and

(iii) the worth of lost production due to breakdown or substandard performance minus the final scrap value.