1. A method of managing logical processors of a computing environment comprising a plurality of shared physical processors having a physical processor capacity, and one or more logical partitions, at least one logical partition of the one or more logical partitions comprising an operating system image, said method comprising: configuring a logical partition of the one or more logical partitions of said computing environment with a number of logical processors, wherein the number is greater than or equal to 1, each logical processor being dispatched on a shared physical processor of the plurality of shared physical processors; employing a workload manager to dynamically adjust configuration of the logical partition based on workload of the logical partition, the workload manager: automatically evaluating workload of the logical partition and automatically determining therefrom that said configuration of the logical partition is to be adjusted to change the number of logical processors assigned to the logical partition, the automatically determining employing a formula based, in part, on a percentage of physical processor capacity of the plurality of shared physical processors assigned to the logical partition and a percentage of physical processor capacity of the plurality of shared physical processors currently being used by the logical partition; and dynamically adjusting the configuration of the logical partition in response to the automatically determining, said dynamically adjusting the configuration comprising dynamically adjusting the number of logical processors of the logical partition, wherein the percentage of physical processor capacity of the plurality of shared physical processors available for use by the logical partition is unaffected by the dynamic adjustment of the number of logical processors assigned to the logical partition.