Not quite, Managers can be separate, accounts can be separate, advertizing can be separate etc. but Development and Operations must be treated as one unit no separation.
In other words anything that can have a line of communication and still work can stay as it is but in order for DevOps to work development and operations must essentially become one with both developers and sysadmins working together on architecting a flow that works for both of them.
One office and one project is not really a requirement but it helps a lot in the beginning however if you can keep the cooperation a culture alive even working remotely could work.
The key is people who are always willing to learn and try new things and putting effort into change and staying on the same page with their teammates.
In other words anything that can have a line of communication and still work can stay as it is but in order for DevOps to work development and operations must essentially become one with both developers and sysadmins working together on architecting a flow that works for both of them.
One office and one project is not really a requirement but it helps a lot in the beginning however if you can keep the cooperation a culture alive even working remotely could work.
The key is people who are always willing to learn and try new things and putting effort into change and staying on the same page with their teammates.