1. A computer-implemented method of load balancing processing resources, said method comprising: calculating, by a first computing device located in an application executing environment, an expected cost set associated with an application-specific task of an application executing on a processing resource in a cloud computing environment, said first computing device being outside said cloud computing environment, said expected cost set comprising an expected computational cost and an expected communication cost; communicating, by said first computing device, said expected cost set from said first computing device to a second computing device located in a cloud management system; retrieving, by said second computing device, resource mapping of applications currently executing in said cloud computing environment; assigning, by said second computing device, said application-specific task to a specific computational resource in said cloud computing environment based on said expected cost set and said resource mapping of applications currently executing in said cloud computing environment; determining, by said second computing device, a task to VM (virtual machine) assignment based on said assigning said application-specific task to said specific computational resource in said cloud computing environment; transferring, by said second computing device, information concerning said task to VM assignment from said cloud management system to said application executing on said processing resource in said cloud computing environment; migrating, by said second computing device, VMs of existing applications onto different processing resources in said cloud computing environment based on said assigning said application-specific task to said specific computational resource in said cloud computing environment; and redistributing, by said first computing device, data and said application-specific task of said application based on said transferring said information concerning said task to VM assignment from said cloud management system to said application executing on said processing resource of said cloud computing environment.