Following are the characteristics of project:

Project

• Definite start and end date

• Unique in nature, every project has different scope of work.

• It is temporary because every project has start and end date.

• Objectives and goals are associated with projects.

• Cost, time and quality are triple constraint associated with every project.

• There could be number of risk, assumptions and constraints in project.

• Project manager is the key person to coordinate and organize the project activities.

• Resources are acquired for limited duration.

• Progressively elaborated

• It is considered as closed if the objectives are achieved

• Projects are critical to the realization of performing organization’s business strategy because projects are a means by which strategy of the company is implemented.

Following are the characteristics of operations:

Operations

• It has no definite start and end date; operations are performed on daily basis.

• Repetitive in nature, scope of work remains the same

• Operations are permanent

• Operations staff performs the daily operations.

• Required to sustain the business

• Adopt new set of objectives and work continuous