Stands for Application lifecycle management. It is an umbrella term for all stages of software development, from start to finish. It includes design, development, testing or quality assurance, project and requirements management, as well as customer experience and service delivery.
According to some specialists, ALM is not as widely used as the term SDLC (Software Development Life-Cycle). There is also a proposition to extend the abbreviation to ADLM to include DevOps.