Following are the characteristics of 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:
• 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