Quality is delighting customers
QC formerly called Test Director (from Mercury).
TD used to maintain all test plans, cases, defect tracking and keep automation test scripts (Winrunner).
Later TD transformed into Quality Center (QC) and taken over by HP (from Mercury). In the place of WR we are keeping now UFT test scripts.
Also, in each version of QC it is adding / upgrading with many features (Management, Libraries, Baselines, Query Analyzer etc) and fully transformed into ALM (Application Lifecycle Management).
I know this is very high level but may provide some light on your query. Please let me know if you hae any more questions.
Search results Included snippet from the web-based HP Quality Center (QC), a quality management tool, is now popularly known as the Application Life Cycle Control (ALM) tool, as it is no longer just a performance management tool, but embraces different phases of the life cycle of software development. HP-ALM lets them monitor the goals, results and finances of the enterprise.
ALM (Application Life Cycle Management)
It is a web-based tool that helps companies navigate the technology lifecycle from project planning, the selection of specifications to development and delivery, which is otherwise a time-consuming process.