The idea of a "relaxation" method is to disturb an existing equilibrium and
watch it decay back to equilibrium. "Relaxation time" is a time constant for
a system to return to equilibrium in response to a sudden disturbance, like
a pressure jump or a temperature jump or .... One can follow the progress of
the reaction as it returns to equilibrium electronically by measuring the
change in some property like electrical conductivity or spectroscopic
absorption, or ...