When in doubt, stick with the published definition of the word Project, according to PMBOK 5. P.553 states a project is a "temporary endeavor undertaken to create a unique product, service, or result."
Your contract has a start and end date, so that meets the temporary endeavor aspect in the above definition. Now ask yourself, in the temporary time are you creating something unique. You say you are operating something. Then in my opinion, it sounds like an operation, not a project.
Thanks all for the input. After reading the comments, I guess during the initial stage of the contract it would be a project. Since it fulfill both the "temporary" and "unique results" definition. Subsequent contract renewal (if no further changes), even if it is on a yearly basis, should be considered an operation.
Moderators: Yolanda Mabutas, Ahmed Amin, Scott Gillard, Mary Kathrine Padua, ERIC BARTLETT, Gail Freedman, Kevin Nason, Steven Mudrinich, PMP, Mark Wuenscher, PMP, John Wolverton, Tracy Shagnea, PMP, Jada Garrett, Mark Lacattiva
This interview with Simona Fallavollita (LinkedIn Profile) was recorded at the magnificient Project Management Institute (PMI)® Global Conference 2017 in Chicago, Illinois. We discuss the how, what, why and when of the changes that are coming to the PMP exam.