The Investment Management Due Diligence Association (IMDDA) recently kicked off its year-long “Ask the Experts” question-and-answer series with industry professionals, the first of which focused on operational due diligence (ODD). Moderated by Herbert M. Chain, director of education at the IMDDA, and featuring Kevin J. Eastwood, ODD manager at the U.K. Pension Protection Fund and a member of the IMDDA advisory board, the program provided valuable insights to fund managers about ODD, including best practices for conducting ODD on managers and third-party service providers; advice for emerging managers; thoughts about fee and expense transparency; and considerations about cybersecurity. This article summarizes the key takeaways from Chain and Eastwood. For coverage of other IMDDA events, see “How Due Diligence Professionals Approach the Private Fund Review Process” (Jun. 15, 2017); “How Fund Managers Can Prepare for Investor Due Diligence Queries About Cybersecurity Programs” (Feb. 2, 2017); and “How Studying SEC Examinations Can Enhance Investor Due Diligence” (Oct. 6, 2016).