Glossary
Title | |
---|---|
Overspending |
Expenditure in excess of a voted (sanctioned) amount or a main division of a vote. (Source: Adapted from the Finance Management Act of 1999). |
OSP |
Organisation Support Plan |
Optimised Decision Making (ODM) |
A formal process to identify and prioritise all potential solutions with consideration of financial viability, social and environment responsibility and cultural outcomes. (Source: International Infrastructure Management Manual – Ver. 3.0 2006). |
Operation |
The active process of utilising an asset which will consume resources such as human, utilities and materials. Operation costs are part of the life cycle costs of an asset. (Source: International Infrastructure Management Manual – Ver. 3.0 2006). |
OOP |
Office of the Premier |
O & M |
Operation & Maintenance |