Oracle Metric hard parse (sharing criteria) elapsed time Oracle Tips by Burleson Consulting

The hard parse (sharing criteria) elapsed time Oracle metric is the amount of elapsed time spent performing SQL hard parses when the hard parse resulted from not being able to share an existing cursor in the SQL cache.

For more details see:

Oracle hard-parse vs. soft parse

A hard parse is when your SQL must be re-loaded into the shared pool.  A hard parse is worse than a soft parse because of the overhead involved in shared pool RAM allocation and memory management.  Once loaded, the SQL must then be completely re-checked for syntax & semantics and an executable generated. 

Excessive hard parsing can occur when your shared_pool_size is too small (and reentrant SQL is paged out), or when you have non-reusable SQL statements without host variables.

Also, it is pointed out in a Rampant Techpress information page that "the V$SESS_TIME_MODEL view provides a window into," the hard parse (sharing criteria) elapsed time metric.
 

This, and many other Oracle performance metrics are discussed in my book "Oracle Tuning" by Rampant TechPress.  You can buy it directly from the publisher and save 30% at this link:

http://www.rampant-books.com/book_2005_1_awr_proactive_tuning.htm