ALM stands for Application Lifecycle Management, but what on earth is that?
Here is the Wikipedia definition, but I strongly doubt it explains anything at all, so here’s how I usually explain it:
In everyday software professional jargon ALM refers to the set of tools, processes and methodologies involved in delivering software from its initial state of raw ideas (and a bunch of code) to the final state of working, production-ready systems.
ALM is a very wide concept embracing and interfacing with multiple smaller domain-specific disciplines and practices, such as: Requirements Management, Build Automation, Software Configuration Management, System Configuration Management, Deployment, Continuous Integration/Delivery, Change Management, etc. In fact ALM is the art and science of making all these parts play together to generate the effective software manufacturing production line.
When done correctly this can save your organization time and money, bring quality and stability to your processes and deliverables.