Hi Pavan.
When upgrading I usually have a list of primary use case that include apps, then I test these use cases and see that they still work as intended.
On big instances, with a lot of apps and different use cases I usually have some user ambassadors that perform UAT, to ensure nothing is broken.
Besides that I also take note of the Confluence Usage information (Total Spaces, Content, Number of users, etc) and compare them afterwards. The same goes for Jira under system information i verify the issue numbers, comments etc. You could as well take note of loading time before and after upgrade.
Then as you mention yourself, run a log analysis and check the instance health.
Maybe other community members have more input that is worth of taking notes of, for me as well :-)
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