What Did We Learn?
All three of these definitions explicitly state or infer:
- Scope - The production of something of value
- Quality - Some implied standard to be achieved or maintained in both regimes
- Time and Cost - Constraints in both cases
- Stakeholder/Customer Satisfaction - Essential for success in both cases
- Communication and Administration - Obvious activities in both cases
- Managing and directing, overseeing, designing, and controlling are also evident in all three descriptions
- People skills, creativity, rational analysis, and knowledge of technology are all required for success in both cases
However, there are some noticeable differences:
- Risks are not mentioned in either case, but we may assume lower risks in the case of operations by virtue of the opportunity to learn through repeated activity.
- Projects have limited time spans, described as "temporary", the duration of which is determined by the delivery of an acceptable product. That is, a product that is designed to deliver some benefit.
- Operations are on-going and designed to maximize value harvested from business assets. That is to collect benefits.
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Wikipedia
Definition of Business Operations
