all it is is a small little file that will tell you how long the program took to run the last time you ran it. It CAN be handy as 'proof' in case someone slowed the machine down.
I think it is something in the settings editor and not within Pcdmis, but I might be wrong. I like it as it lets you know how long until the current run is finished so you can plan around machine time.
This tells you how long your program will run. You can open it up and change TimeUpdateable to False and set a time for it as well. This way the "run time" never changes. So if an operator turns down the speed, the execution box will go negative and you can validate when they milk it.