Definition(s)
Operating
The design, implementation and control of activities that convert resources into products and services to fulfil a company’s business strategy. The word ‘operating’ refers to the entire lifecycle of a company’s activities and products.
An OMS should cover all types of business activity. The word “operating” refers to the entire business lifecycle: from technology research to access to new resources through exploration; during design and construction of facilities; through start-ups, normal operations and shutdowns; when hydrocarbons are transported and brought to market as oil, gas or refined products; or when facilities are decommissioned at end of life.
Source: IOGP Report No. 510, Operating Management System Framework for controlling risk and delivering high performance in the oil and gas industry, International Association of Oil & Gas Producers, June 2014. Global Standards