Defect Management is very critical part of the test management process. Defect management process and tools used for managing defects are very important for whole project delivery team including test team, development team and other stakeholders of the project.
When a test manager is able to gather defect information effectively from the defect tools like JIRA, Bugzilla, HP Quality Center etc. then that information becomes very important and helpful in providing proper insight to the product quality and current situation of the project.
Properly gathered defect information is also helpful in analyzing issues in the product quality or with the defect process itself. This information is then used to rectify issues with product quality and defect management process.
If you are given responsibility of doing defect management then it is very important for you to ensure that the process is well defined and flows smooth from defect recognition to the disposition. Also, you need to ensure that all the relevant information is captured in defect reports by test analysts and technical test analysts as this will be used for reporting defect status to project stakeholders.