Operations and Projects

Front

What are the two types of activities all organizations engage in?

Back

Operations and projects.

Front

What are operations?

Back

Ongoing, daily activities that produce revenue and incur expense, continuing over an indefinite period of time.

Front

What is a project?

Back

A temporary endeavor with a specified start and end date, aimed at developing a unique product, service, or result.

Front

Give an example of an operation in the airline industry.

Back

An airline company providing transportation services to passengers.

Front

Give an example of a project in the automobile industry.

Back

An automobile manufacturer developing a new passenger car to meet market demand.

Front

What is a key difference between operations and projects?

Back

Operations are ongoing with no defined end date, while projects are temporary with a specified start and end date.

Front

Can projects improve operations?

Back

Yes, projects can be used to complete initiatives that improve operations or introduce new products or services.

Front

What happens after a project is completed in a business context?

Back

The business engages in day-to-day operations.

Front

What is an example of a project in the service industry?

Back

A bus company undertaking a project to study how to better serve a portion of the population.

Front

What is an example of a project that does not result in a new product or service?

Back

An insurance company improving its claims processing procedure to improve customer satisfaction.