The correct capability is tracing because the requirement is to inspect the execution path of an individual agent run. Microsoft Foundry tracing captures detailed telemetry for agent behavior, including LLM calls, tool invocations, agent decision flows, inputs, outputs, tool results, token consumption, duration, and latency.
This is the appropriate observability mechanism when you need to determine which step introduced a delay, whether the agent called the internal knowledge API, what data the tool returned, and how the model used that data before producing the final response. Microsoft's Foundry observability guidance describes distributed tracing as the mechanism that provides visibility into LLM calls, tool invocations, agent decisions, and inter-service dependencies.
Token usage is useful for cost analysis and prompt optimization, but it does not show ordered run steps or tool-call sequencing. Safety metrics evaluate risk-related output behavior, not latency or tool execution.
General monitoring provides aggregate health, latency, success-rate, and dashboard views, but the question asks for per-run sequence inspection and timing breakdowns. Foundry agent tracing specifically supports debugging unexpected behavior and monitoring latency across requests. Reference topics: Microsoft Foundry observability, agent tracing, OpenTelemetry-based traces, tool invocations, LLM call inspection, and latency diagnostics.