We begin a program of generalizing basic elements of the theory of comparison, equivalence, and subequivalence, of elements in C*-algebras, to the setting of more general algebras. In particular, we follow the recent lead of Lin, Ortega, Rørdam, and Thiel of studying these equivalences, etc., in terms of open projections or module isomorphisms. We also define and characterize a new class of inner ideals in operator algebras, and develop a matching theory of open partial isometries in operator ideals...

We generalize some aspects of the theory of compact projections relative to a C*-algebra, to the setting of more general algebras. Our main result is that compact projections are the decreasing limits of 'peak projections', and in the separable case compact projections are just the peak projections. We also establish new forms of the noncommutative Urysohn lemma relative to an operator algebra, and we show that a projection is compact iff the associated face in the state space of the algebra is...