Can you explain the concept of application lifecycle management in Enterprise Application Development?
Application Lifecycle Management (ALM) refers to the process of managing a software application throughout its entire lifecycle, from initial requirements gathering to retirement. This includes activities such as planning, designing, developing, testing, deploying, and maintaining the application. ALM aims to streamline and optimize the development process, ensuring that the application meets business requirements and quality standards. It involves various tools and techniques for managing the different phases of the lifecycle, such as version control, bug tracking, and release management.