1. A method, comprising: using a storage service level (SSL) object and a protection service level (PSL) object for storing a plurality of configurable attributes by a processor, wherein a combination of the configurable attributes define service level classes (SLCs) in a networked storage system using a plurality of resources; wherein the SSL object defines storage service levels and the PSL object defines data protection service levels using one of backup and mirroring techniques; and wherein the SSL object and the PSL object use a same schema and naming convention for defining the plurality of configurable attributes regardless of configuration attribute type and resource type; obtaining by the processor, attributes defining a second SLC for a storage volume assigned to a first SLC; and updating by the processor, a quality of service (QOS) policy for the storage volume for using a resource that meets attributes of the second SLC; wherein the storage volume is assigned the resource; and requests for data in the networked storage system are processed using the QOS policy in compliance with the second SLC.