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Run Time, also known as Execution Time, is a phase of a computer program in which the program is run or executed on a computer system. Run Time is part of the System Lifecycle, and it describes the time between when the system begins running within the memory until it is terminated or closed by the user or the Operating System (OS).

See Also: 'USE' in the Data Lifecycle Taxonomy

Source: https://www.techopedia.com/definition/3869/run-time