Take Care of the Goose, It Will Lay Golden Eggs

Sydney Opera HouseThe tallest skyscrapers that form the skyline of Sydney – or any major city for that matter can easily captivate anyone. Much more wonderful is taking a bird’s eye view from one of the higher floors. You would certainly run out of words to describe how fascinating everything is when you are on top of the world.

What is not immediately apparent to the naked eye, though, is the monumental task of making all these buildings work. You see, buildings are assets, and you need to maintain assets. Otherwise, time will only definitely make a dent on the structure. Not only will it be the building become an eyesore, it could degenerate into a useless entity – in record time.

The Most Popular Building on Australia

Classic example: Sydney Opera House.

No current structure in the whole of the Land Down Under may have placed Australia on the map. And arguably, not one has generated so much income for the Australian government.

For the record, it was where the great bodybuilder-turned California governor Arnold Schwarzenegger got his first Mr. Olympia title. And it’s definitely the busiest in the heart of Sydney. 1.2 million people each year attend over 1,500 performances– and counting.

Asset Maximization

Yet, as an asset, the Sydney Opera House was a test of faith. For one, its construction budget rose from the estimated $7 million in 1957 to $100 million when done a decade or so after. Even Jørn Utzon, the designer of this iconic building, resigned years after the work started as tensions ran high.

The challenge now is maintenance. Before the question raised was: Is this structure useful? Now, it is: How do we maintain the structure to make it last for as long as possible?

Mainpac states that a reliability centred maintenance is a big lift to increase whatever industry’s asset productivity ratio. Such a practice now maintains the huge industries of the world, from Google’s data farms to the Herculean task of erecting and preserving a building.

Once properly maintained, this goose should lay golden eggs after golden eggs. As long as you know how to use an asset management system, your upkeep will never be even half as expensive as your revenue.