Question

At one time, project management was viewed as only nice to have. However, recessionary times and increased competition forced organizations to reevaluate their business practices and streamline operations in order to survive. Companies began to recognize the value of project management to help them accomplish greater organizational performance and strategic objectives.

What are the similarities and differences between operations management and project management?

What is the relationship between business strategy and operations strategy?

In what ways does project management contribute to business value?

How can project management and operations management be used collectively to support operations strategy?

Answer 1

The basic difference between operations management and project management is that, operations management is related to various basic operations of a business like the business functions that re present and plays an important role in a business. On the other hand project management is related to projects and it is specific based on the demands and requirements of a particular project. organizations needs to be very much effective in understanding the difference as both are equally important from a business perspective in an organization.

Business strategy is generally the plan and strategy of the whole business that it plans to adopt and accomplish and operations strategy is the subset of the business strategy and the accomplishments of the operation strategy sttes that the business strategy is achieved and finalized. Project management are generally the functional unit of a business and if a business plans to achieve something then the project management has to be evy much effective, that will ensure that it helps the organization grow and do better. As discussed that operations management is a subset of project management and hence both these factors are required to support the overall strategy of a business that will help organizations achieve their goal and objectives of a business.