A project in the realm of both information technology and the European Commission would not be short of abbreviations. We'll try and help you a bit.

 
AB Advisory Board  
ACL Access Control List  
AEM XtreemOS Application Execution Management  
B2B Business to Business  
B2C Business to Consumer  
EC European Commission  
EU European Union  
FP7 Seventh Framework Programme  
GAFS Global Autonomous File System
IaaS Infrastructure-as-a-Service  
IPR Intellectual Property Rights  
IST Information Society Technologies  
KVM Kernel-based Virtual Machine  
OCCI Open Cloud Computing Interface
OGF Open Grid Forum  
OpenID Distributed identity system
OS Operating System  
PaaS Platform-as-a-Service
POSIX Portable Operating System Interface [for Unix]
QoP Quality of Protection  
QoS Quality-of-Service  
SaaS Storage-as-a-Service  
SAML Security Assertion Markup Language
SAS Statement on Auditing Standards  
SLA Service Level Agreement  
SP Sub-project  
SQL Structured Query Language  
SSL Secure Socket Layer  
VCP Virtual Cluster Platforms  
VIN Virtual Infrastructure Network  
VM Virtual Machine  
VPN Virtual Private Network  
WP Work package  
WS-Agreement Web Services Agreement Specification  
X.509 ITU-T standard for a public key infrastructure (PKI) for single sign-on (SSO) and Privilege Management Infrastructure (PMI)  
XtreemFS XtreemOS Grid file system  
XtreemOS Grid Operating System