1. A method of managing logical processors of a computing environment comprising a plurality of shared physical processors, said method comprising: configuring a logical partition of said computing environment with a number of logical processors, wherein the number is greater than or equal to 1; employing a workload manager to dynamically adjust configuration of the logical partition based on workload of the logical partition, the workload manager: automatically evaluating workload of the logical partition and automatically determining therefrom that said configuration of the logical partition is to be adjusted based, in part, on a percentage of physical processor capacity assigned to the logical partition and a percentage of physical processor capacity currently being used by the logical partition; and dynamically adjusting the configuration of the logical partition in response to workload of the logical partition, said dynamically adjusting the configuration comprising dynamically adjusting the number of logical processors of the logical partition.