What does Problem Management mean?
Problem management is a life cycle management process geared toward preventing problems from occurring, reducing the impact of unavoidable problems and finding solutions to prevent recurring problems. Problem management focuses on a problem's original cause and works to resolve the problem in a proactive or reactive manner, as required.
Techopedia explains Problem Management
Problem management's primary application field is IT services. Parameters like availability and quality are critical IT service components, which are applied to problem management to prevent issues or incidents that could lead to service outages or instability.
A key problem management technique is maintaining a dedicated log that includes a precise description of each problem with corresponding resolution procedures and results. Ultimately, this record reduces the resolution time and costs related to problem handling.