I have written a small java application for which I need to obtain performance metrics such as memory usage, running time etc., Is there any simple to use performance measur
For runtime metrics, use any profiler such as VisualVM, Netbeans Profiler, or the Eclipse TPTP Tools. A profiler usually gives you more fine-grained metrics such as the runtime for individual functions, hotspots, etc.
You might also check out the list of Open Source JMX tools.
Use these in combination with JMeter and other such load-generator tools.