Alerts are standard functionality of Blue Prism, given your licence allow them (check it by going to System Manager, System, Licence, View details of installed License).
You can read more about alerts by clicking Help - Search - Alert.
If you have a 'single sign on' set-up for your GAD group, then easiest way to run alerts is:
Start - Run (WIndows Key + R)
CD C:\- BLUE PRISM DIRECTORY-\
Then
automate /alerts /sso
if you are not set-up for single sign on, then please refer to the help section.
In respect of the second point - regarding alerts for the processes that do not finish on time, I think it could be a valuable functionality, but not to fix bad design (unlimited loop) issues.