Some impressions:

The load balancer manager is the central management tool and allows existing virtual machines to be transformed to a load balanced, high available service managed by the Red Hat Cluster Suite. This process moves the virtual machine along with its configurations to the shared storage, corrects the paths in the configurations files, registers the service for rgmanager and adds it to the list of balanced machines.

LBM also offers information about the virtual machines, where they are running ...

... and what happened to them in the past.

Live migrations may also be initiated manually through the LBM.

The lbvm.conf is the main configuration file and contains settings for all virtual machines which are under the control of the load balancer.