SAP Plant Maintenance (PM) is a module in SAP ERP that handles maintenance activities for a company's assets. It covers both preventative and corrective maintenance. The key functions of SAP PM include inspection, repair, and preventative maintenance of technical objects. It also integrates with other SAP modules for maintenance planning, costing, and procurement of materials and services. The organizational structure in SAP PM includes maintenance plants, planning plants, work centers, and other units to support maintenance processes.