1. A time partitioned processing system, the system comprising: at least one processing core; a memory coupled to the at least one processing core; a real-time operating system, the real-time operating system including a scheduler configured to partition processing time for the at least one processing core into a plurality of time periods, wherein the scheduler further budgets a pre-determined duration of processing time for executing a first budgeted time partitioned entity (TPE) by allocating at least a first allocation of time to the first budgeted TPE; wherein the scheduler utilizes at least a portion of processing time within the plurality of time periods not used to execute the first budgeted TPE or any other budgeted TPE as environmentally regulated slack; wherein the scheduler allocates at least a portion of environmentally regulated slack to one or more slack consuming TPEs based on a measurement of one or more operational environment parameters associated with the at least one processing core.