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| Project |
What is Project?
A project is an activity to satisfy the creation of a unique product or service, therefore, activities that are undertaken to accomplish routine activities can't be considered as projects.
Simply we can say that, a project is a means to create a product, a service or a result.
Some important points about a Project:
* A project duration is temporary.
* A project is an unique or new output.
* A project has a definite outcome.
* A project purpose is to attain its objective and then terminate.
* A project has been concluding when its specific objectives have attained.
* For a project, it is difficult to estimate time and budget.
* A project brings various changes.
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What is Operations?
Operations are an ongoing work which is not a unique or new idea and the purpose of an operations are to sustain the ongoing businesses.
Some important points of an Operations:
* An operation is always ongoing
* An operation outputs are repetitive
* An operations have no definite outcome.
* The purpose of an operations is to sustain the business.
* An operation adopts a new set of objectives and the work continues.
* In an operations budget has fixed with no time boundaries.
What is the difference between the project and operations?
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| Project vs Operations |
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What is common to projects and operations?
The common between projects and operations are that both are performed by people. These are limited by constraints, including resource constraint. Both projects, as well as operations, are planned, executed, monitored and controlled. Both are performed to achieve organizational objectives or strategic plans.
In points:
* Performed by people
* Limited by constraints, including resource constraint
* Planned, executed, monitored and controlled
* Performed to achieve organizational objectives or strategic plans
There are two types of projects:
1) Based on Product v/s Network of Work2) Based on Application Area
Types of Projects --> Based on Product v/s Network of Work
a) Tangible Craft Project
b) Tangible Intellect Project
c) Intangible Craft Project
d) Intangible Intellect Project
Types of Projects --> Based on Application Area
a) Construction Type
b) Research Project
c) Re-engineering Projec
d) Procurement Project
e) Business Implementation Project
Click to Learn Steps for Conducting a Project
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What is Project Management?
Project management is the process of the practice of initiating, planning, executing, controlling, and closing the work of a project.
Project Management is also known as the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
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| Project Management |
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| Project vs Operations |
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