1. A method for prioritizing access to a shared resource in a digital system having a plurality of devices vying for access to the shared resource, comprising the steps of: establishing a software priority state associated with a program module; executing an instruction from the program module on a first of the plurality of devices to form an access request to the shared resource; providing an access priority value with the access request that is responsive to the software priority state of the program module; and arbitrating for access to the shared resource by using the access priority value.