Characterisation, mitigation and correction of telescope vibrations have proven to be crucial for the performance of astronomical infrared interferometers. The project teams of the interferometers for the LBT, LINC-NIRVANA and LBTI, and LBT Observatory (LBTO) have embarked on a joint effort to implement an accelerometer-based vibration measurement system distributed over the optical elements of the LBT. OVMS, the Optical Path Difference and Vibration Monitoring System will serve to (i) ensure conditions suitable for adaptive optics (AO) and interferometric (IF) observations and (ii) utilize vibration information, converted into tip-tilt and optical path difference data, in the control strategies of the LBT adaptive secondary mirrors and the beam combining interferometers. The system hardware is mainly developed by Steward Observatory's LBTI team and its installation at the LBT is underway. The OVMS software development and associated computer infrastructure is the responsibility of the LINC-NIRVANA team at MPIA Heidelberg. Initially, the OVMS will fill a data archive provided by LBTO that will be used to study vibration data and correlate them with telescope movements and environmental parameters thereby identifiying sources of vibrations and to eliminate or mitigate them. Data display tools will help LBTO staff to keep vibrations within predefined thresholds for quiet conditions for AO and IF observations. Later-on real-time data from the OVMS will be fed into the control loops of the AO systems and IF instruments in order to permit the correction of vibration signals with frequencies up to 450 Hz.