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In recent years, the concept of Agriculture 4.0 has emerged as an evolution of precision agriculture (PA) through the diffusion of the Internet of things (IoT). There is a perception that the PA adoption is occurring at a slower pace than expected. Little research has been carried out about Agriculture 4.0, as well as to farmer behavior and operations management. This work explores what drives the adoption of PA in the Agriculture 4.0 context, focusing on farmer behavior and operations management. As a result of a multimethod approach, the factors explaining the PA adoption in the Agriculture 4.0 context and a model of irrigation operations management are proposed. Six simulation scenarios are performed to study the relationships among the factors involved in irrigation planning. Empirical findings contribute to a better understanding of what Agriculture 4.0 is and to expand the possibilities of IoT in the PA domain. This work also contributes to the discussion on Agriculture 4.0, thanks to multidisciplinary research bringing together the different perspectives of PA, IoT and operations management. Moreover, this research highlights the key role of IoT, considering the farmer’s possible choice to adopt several IoT sensing technologies for data collection.