Coagulation factors (Prothrombin Time) 11–12 seconds

Time it takes to produce fibrin polymers after adding thromboplastin and calcium 

Increased in:

The liver makes many of the proteins (prothrombin & other clotting factors) needed to make blood clot. In certain liver disorders the liver cannot make enough of these proteins and so blood does not clot so well.  Therefore, blood clotting tests may be used as a marker of the severity of certain liver disorders

In acute and chronic liver disease, the synthesis of prothrombin is diminished, Also in obstructive jaundice (due to vitamin K deficiency) prolonged prothrombin Time (PT)

This may be one of the earliest  abnormalities seen in hepatocellular  damage, since prothrombin has a short half-life  (~ 6 hours). So it must be done for every patient prone to surgery or operation.