Terotechnology


Terotechnology
A word derived from the Greek root word "tero" or "I care", that is now used with the term "technology" to refer to the study of the costs associated with an asset throughout its life cycle - from acquisition to disposal. The goals of this approach are to reduce the different costs incurred at the various stages of the asset's life and to develop methods that will help extend the asset's life span.

Terotechnology uses tools such as net present value, internal rate of return and discounted cash flow in an attempt to minimize the costs associated with the asset in the future. These costs can include engineering, maintenance, wages payable to operate the equipment, operating costs and even disposal costs.

Also known as "life-cycle costing".

For example, let's say an oil company is attempting to map out the costs of an offshore oil platform. They would use terotechnology to map out the exact costs associated with assembly, transportation, maintenance and dismantling of the platform, and finally a calculation of salvage value.

This study is not an exact science: there are many different variables that need to be estimated and approximated. However, a company that does not use this kind of study may be worse off than one that approaches an asset's life cycle in a more ad hoc manner.


Investment dictionary. . 2012.

Look at other dictionaries:

  • 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… …   Wikipedia

  • terotechnology — [ˌtɛrə(ʊ)tɛk nɒlədʒi, ˌtɪərə(ʊ) ] noun Brit. the branch of technology and engineering concerned with the installation and maintenance of equipment. Origin 1970s: from Gk tērein take care of + technology …   English new terms dictionary

  • terotechnology — The branch of technology that involves the use of management, financial, and engineering skills in installing, operating, and maintaining plant and machinery. See: life cycle costing …   Accounting dictionary

  • terotechnology — The branch of technology that involves the use of management, financial, and engineering skills in installing, operating, and maintaining plant and machinery. See life cycle costing …   Big dictionary of business and management

  • terotechnology — /ˌtɛroʊtɛkˈnɒlədʒi/ (say .terohtek noluhjee) noun the technology of commissioning, installing, maintaining and replacing machinery, plant and equipment. {Greek tērein to watch over + technology} …   Australian English dictionary

  • terotechnology — n. the branch of technology and engineering concerned with the installation and maintenance of equipment. Etymology: Gk tereo take care of + TECHNOLOGY …   Useful english dictionary

  • Tribology — is the science and engineering of interacting surfaces in relative motion. It includes the study and application of the principles of friction, lubrication and wear. Tribology is a branch of mechanical engineering. Contents 1 Fundamentals 1.1… …   Wikipedia

  • terotecnologia — te·ro·tec·no·lo·gì·a s.f. TS ammin.az. ottimizzazione dell attività di manutenzione dei beni fisici di un azienda per ridurre i costi d esercizio {{line}} {{/line}} DATA: 1983. ETIMO: forse comp. del tema del gr. tēréō io osservo e tecnologia,… …   Dizionario italiano

  • terotehnologie — TEROTEHNOLOGÍE s. f. terotehnică. (< engl. terotechnology) Trimis de raduborza, 15.09.2007. Sursa: MDN …   Dicționar Român

  • life-cycle costing — The approach to determining the total costs of a fixed asset that takes into account all the costs likely to be incurred both in acquiring it and in operating it over its effective life. For example, the initial cost to an airline of an aircraft… …   Accounting dictionary


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