A core process is the high-level flow of how work gets done. Usually a team has five to twelve core processes (Lisa Gonzalez, Process!, p. 57) and they include items such as
- HR
- Marketing
- Sales
- Operations 1
- Operations 2
- Accounting
A procedure is the specific steps inside one part of that process.
A policy is a rule or boundary that governs behavior. It is usually not included in process work, but lives in a handbook.
An SOP or standard operating procedure, is the detailed version of a procedure. In plain terms: the process is the what and the order, the procedure is the how, the policy is the must and must-not, and the SOP is the written record.
I am an EOS Implementer® in Denver and co-author of Process!, the official EOS book on the Process Component. Most teams do not need more policies. They need a few clear processes their people actually follow.
Start with your handful of core processes, document the major steps, and keep each one short enough to use during the work.
The full comparison, with examples and a side-by-side table: Process vs. Procedure vs. Policy vs. SOP