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1. At what points in a project do operations management and project management closely interact?
Operations management and project management do not interact with each other.
At initiating, closeout, and occasionally for some reviews.
Operations management provides the resources for use on project activities. Therefore, they are closely interacting at all times on the project.
2. How does project management impact business value?
When projects are completed on or under budget, business value is enhanced.
The effective use of project management disciplines leads to reliable established business processes that achieve enterprise objectives and create business value from the investments.
Business value is determined by market forces. It is not impacted by project management.
3. What is a key characteristic that differentiates operational activities from project activities?
Operational activities have a set time and cost to accomplish them. Project activities are allowed to overrun or underrun both cost and time.
Operational activities are standard activities that are repeated time and again while operating an ongoing business process. Project activities are temporary activities for achieving the unique project results.
Operational activities are administrative in nature and project activities are technical in nature.
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