By definition Application Management is a combination of the provision of services for application and support for application systems throughout their entire lifecycle. User support is offered and the supported software is enhanced.
Nice definition but what are the goals and what does that really mean? Simple answer is: "User satisfaction". So, as user of Applications, what are my dreams?
When I need an application that exists, I need a portal where I can just request it, may be few approvals are needed because of budget and other management stuff. However, it should not take more than 24h for I get it whatever is my access point (laptop, smart phone, tablet ...). And usually it should take less than an hour.
When I need a new feature or improvement in an application, after I specify my need and it's validated that it is usefull and we've budget, I wish to see a prototype of the feature on less than 2 weeks time frame. After I validate the prototype meets my requirements (we could have several rounds), I expect to have the upgrade in live 2 weeks later.
A very important point is also usability, and that's not only about UI design it's also about performances. For a user, when performances are so poor that you can't use the application, it's the same as down time. So I need the application performance to be measured from end user perspective. I don't care to know that the database and the application server are perfectly optimized and well sized if I'm waiting 30 seconds between each click.
That is what Application Management needs to achieve, whatever blabla we put around. For sure there are a lot of challenges, innovations are needed and that is what makes Application Management so exciting.