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The increasing demand on IT organizations to maximize Business Value for its stakeholders has driven several changes in the way that some of the core IT processes and functions are run. Application Lifecycle Management (ALM) is one such area that has come under increasing levels of focus in recent times. Aspects of ALM largely cover the essentials of Collaboration & Governance, Development Life Cycle and Operations. The drivers for adopting ALM are clearly around improvements in Quality, Productivity and Cycle time.