The LiveIP project is an exploration of the possibilities and opportunities achievable with today's IP-enabled broadcast technology in a live production environment. The paper gives an overview of the facts and findings from this hands-on project, in order to share it with the broadcasting community, thereby helping to advance knowledge of the current state of the technology and to identify areas where further work is needed. The project has shown that it is possible to build and to operate a live & IP production studio based upon open standards in a multivendor environment.