SRM provides hypervisor based virtual machine replication by utilizing VMware vSphere Replication. By copying virtual machines from multiple sources to a single disaster recovery site or from a primary site to a secondary site, it protects VMs against partial or total site failures.

No, stretched storage is only supported in the Enterprise edition of SRM this feature allows for seamless failover between geographically separated data centers​.

Site Recovery Manager helps users recover from disasters by doing things like managing objects, such as recovery plans or protection groups, and doing things like replicating or turning off virtual machines. Site recovery Manager uses roles and permissions so that only users can do these things.