1. A method for managing power utilization and performance of a multiprocessor (MP) system comprising the steps of: receiving first sensor data defining physical parameters of said MP system; receiving first parameters corresponding to operational requirements of said MP system; determining power and performance goal settings for processors in said MP system in response to said first sensor data and said first parameters; generating a set of controls for said MP system in response to said power and performance goal settings; and applying said set of controls to adjust operation parameters of said processors in said MP system.