Hi Gangadhar,
Logical Components: As Billy Warring said, Logical Components are used to point to exact client for communication, and it is mandatory and assigned with a Client/System Role such as Qas/Dev/Prd/Tst/Evl ...etc
These Logical Components are used in Solution Monitoring and Project Management. (ASAP Methodology)
Logical Components - SAP Solution Manager - SAP Library
Solution Landscape is required for Monitoring, Administration, Reporting, Business Process Monitoring, EWA, & MOPZ.
Solution Monitoring : The alerts are provided in Monitoring tool, where the alerts can be customized and the alerts are displayed in the Alert Overview. These alerts are based on CCMS and refreshed for every 5mins. It is used to check the critical areas on the system.
Regards,
Shyam Ponnam