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ItemDescription
OGC UK Office of Government Commerce
OGC owns the ITIL brand (copyright and trademark). OGC is a UK Government department.
OLA Operational Level Agreement
An Agreement between an IT Service Provider and another part of the same Organisation.
An OLA supports the IT Service Provider's delivery of IT Services to Customers. The OLA defines the goods or Services to be provided and the responsibilities of both parties.
OPEX Operational Expenditure
OPSI Office of Public Sector Information
OPSI license the Crown Copyright material used in the ITIL publications. They are a UK Government department who provide online access to UK legislation.
Off-shore Provision of Services from a location outside the country where the Customer is based, often in a different continent.
On-shore Provision of Services from a location within the country where the Customer is based.
Operation Service Operation provides guidance on the day to day management of the ICT Infrastructure.
It is also contributes to the Service Management Lifecycle for carrying out those processes which contribute to the optimisation of the services provided.
Opportunity Cost A Cost that is used in deciding between investment choices. Opportunity Cost represents the revenue that would have been generated by using the Resources in a different way.
For example the Opportunity Cost of purchasing a new Server may include not carrying out a Service Improvement activity that the money could have been spent on.
Opportunity cost analysis is used as part of a decision making processes, but is not treated as an actual Cost in any financial statement.

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