The operative word for the Olympics will be live. Or as executive producer Jim Bell says, “Lots of live.”

For the first time ever, every minute of every event at London will be available live at NBCOlympics.com. If you want equestrian at 4 a.m., you’ve got it.

Gone are the days when former NBC Sports chairman Dick Ebersol resisting live online coverage of premier Olympic events, fearing it would hurt ratings for the daily prime-time telecasts.

His successor, Mark Lazarus, contends with the advances in technology and with the way people consume information, live for 2012 was the only way to go. Unlike the Beijing Olympics in 2008, where NBC was able to show some live events such as swimming in prime-time, that won’t be the case for London.

“The decision was made because we think that as times have changed there is a sense to satisfy all the people [using digital devices],” Lazarus said. “The avid fan has that need of immediacy. We are going to satisfy that request.”

As a result, more than 3,500 hours of Olympics will be streaming to computers and mobile devices throughout the world. If you’re registered, you can watch Honduras-Morocco now in men’s soccer.

I mean, does it get better than Honduras-Morocco over breakfast?

What does it all mean? Here is some important things do know:

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Gary Zenkel, NBC’s president for the Olympics, said at peak times the network will offer as many as 40 concurrent sports via live streaming. Think about that: 40.

“That means if there are four simultaneous tennis matches at the All England Club, they will be available,” Zenkel said.

However, if you’re watching 40 events at one time, probably time reassess your life.

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If it sounds too daunting to navigate through 40 events, you will have some guidance. NBCOlympics.com will have its version of the NFL’s Red Zone. Gold Zone will take viewers to marquee action, such as event finals or overtime action in games as well as headline events.

However, Gold Zone will be without an anchor. If it was me, I would have tabbed my hero, Red Zone anchor Scott Hanson.

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Live streaming doesn’t mean you will be hearing NBC’s Dan Hicks if you tune into swimming. Lazarus said world feed announcers will be used in some cases, and for other events, there might only be graphics without any play-by-play and commentary.

So there’s a good chance you only will see horses jumping around if you tune into equestrian at 4 a.m.

NBC still is saving its best production for the prime-time audience. Lazarus believes the vast majority of live-stream viewers still will want tune in later to hear the analysis from NBC’s announcing teams. If anything, he said, the prime-time telecasts should receive a boost from people using social media to build excitement for an event.

“When we ask people, ‘When are you available to watch an event?’ The answer is after dinner,” Lazarus said. “This has been a successful formula. We shouldn’t change what’s been successful.”

Yes, some of the Ebersol model lives on.

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Viewers who want to access the live coverage at NBCOlympics.com will have to verify that they are either cable, satellite or Telco subscribers. Zenkel estimates nearly 90% of country will be eligible for the live streaming.

Also, registration is easy, and it’s a good idea to do it in advance. And one key point: Be sure to know your sign-in information for your provider.

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You won’t be able to live streaming for the Opening and Closing Ceremonies. NBC is saving both for exclusive primetime coverage.

Again, the Ebersol model lives.

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During an NBC news conference in New York last month, Zenkel pulled out an iPad, calling it and smartphones game-changers in Olympic consumption. Zenkel said NBCOlympics.com produced 52 million unique users during the Beijing Olympics. Thanks to the instant access from new technology, that number could be a speed bump in 2012.

Zenkel wouldn’t make a prediction, but he said, “The potential traffic is staggeringly high.”

NBC has various apps for mobile devices. Check out NBCOlympics.com for more information.

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Will NBCOlympics.com be able to handle that kind of traffic and show 40 events at one time without any glitches? We’ll find out soon enough.