an omission or error due to carelessness: My bank statement is full of oversights.
unintentional failure to notice or consider; lack of proper attention: Owing to my oversight, the letter was sent unsigned.
supervision; watchful care: a person responsible for the oversight of the organization.

1300–50; Middle English; see over-, sight

overlook, oversee, oversight.

1, 2. mistake, blunder, slip. 2. lapse, neglect, inattention. 3. management, direction, control; surveillance.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
oversight (ˈəʊvəˌsaɪt)
1.  an omission or mistake, esp one made through failure to notice something
2.  supervision

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

14c., "supervision," from over + sight. Meaning "omission of notice, fact of passing over without seeing" attested from late 15c.; cf. oversee.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Evidently, nobody took any of this into account-an oversight that amounts to a big failure of leadership.
It strongly suggests a past failure of political oversight.
Federal dollars should come with enough oversight to ensure that home schooled
  students are actually learning something.
Maintain general administrative oversight of the projects.
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