1. A method of allocating computer system resources, comprising: receiving from a user input device parameters defining service level objectives for execution of workloads using computer system resources, wherein the parameters include priorities for the service level objectives, and wherein at least one of the service level objectives is a utilization cap of the system resources; retrieving utilization data related to utilization of the system resources by the workloads, while the workloads are operating; and dynamically allocating the system resources to the workloads as the workloads use the resources, based on the service level objectives and the utilization data.