Currently there are no comprehensive tools that can be used to harness the full potential of Component Based Software Engineering (CBSE). In this paper, we describe a novel component-based software development methodology, called the "Total Component Engineering Methodology" (TCEM) that we have conceived, formulated and tested that can be efficiently and effectively applied to every phase of the CBSE process. We also describe a novel and comprehensive visual tool called the "Total Component Engineering Tool" (TCET) which uses enhanced visual notations and features to efficiently support our new development methodology. This novel tool and methodology complement each other and can be used to produce high-quality component based software that is highly understandable, scalable, maintainable and reusable.