wall clock time

from The Free On-line Dictionary of Computing (8 July 2008)

wall clock time

   <software> The elapsed time between when a {process} starts to
   run and when it is finished.  This is usually longer than the
   {processor time} consumed by the process because the {CPU} is
   doing other things besides running the {process} such as
   running other user and {operating system} processes or waiting
   for disk or {network} {I/O}.

   (1998-03-13)