1. A method for updating hardware and software components of a cloud computing environment, the method comprising: monitoring usage statistics of said hardware and software components of said cloud computing environment, wherein said usage statistics are a collection of data relating to a usage or utilization of said hardware and software components of said cloud computing environment, wherein said usage statistics are used to determine minimum levels of activity of said hardware and software components and an optimal time to update said hardware and software components, wherein said monitored usage statistics comprise the following: processor utilization, memory utilization, number of virtual machines utilized, power utilization, temperature, disk utilization, volume utilization for individual virtual machines, port usages and virtual adapter usages; presenting a user with a list of hardware and software components of said cloud computing environment to be updated with a patch in response to receiving an indication from said user to apply said patch; receiving user-selected thresholds for usage statistics of one or more of said monitored hardware and software components to be used to determine when to apply said patch in response to said user not providing instructions to apply said patch immediately, wherein said user-selected thresholds for usage statistics of one or more of said monitored hardware and software components are received for those hardware and software components presented in said list in response to presenting said user said list of hardware and software components of said cloud computing environment to be updated with said patch; receiving an indication from said user to create a profile containing threshold criteria for updating said hardware and software components of said cloud computing environment in response to updating said hardware and software components using said profile; receiving said user-selected thresholds for usage statistics of one or more of said monitored hardware and software components to be used to determine when to apply said patch in response to updating said hardware and software components using said profile; creating said profile with said received user-selected thresholds for usage statistics in response to updating said hardware and software components using said profile; applying said profile as to when to update said one or more of said monitored hardware and software components with said patch; and applying, by a processor, said patch to a hardware or software component of said cloud computing environment in response to said monitored usage statistics of said hardware or software component meeting a user-selected threshold for said monitored usage statistics.