1. An architecture for enabling management software applications to manage resources in a environment and wherein such resources include servers, data storage volumes, data storage systems, information, software applications, and business processes and which the resources are in a heterogeneous networked environment, the architecture comprising: one or more processors embodying a model-based management layer for providing modeled instances, of objects representing the resources that are accessed by management software applications through the model-based management layer, wherein the model-based management layer includes extension models and profiles for extending a common-object based model component within the architecture, and the extension models and profiles allow the management software applications to manage resources logically grouped in information groups and resource groups and selectively classified according to a classification policy for carrying out resource services and applying resource policies, and the model-based management layer, a service interface, a virtualization layer, an execute module, and a mediation layer are configured for allowing management of the resources using monitoring module, analysis module, strategizing module, and execute module for carrying out processes of monitoring, analysis, strategizing, and execution, wherein; a strategize module strategizes a solution to a policy violation and is communicatively coupled to the execution module, the monitoring module comprises a mediation sub-module, monitoring sub-module, and a discovery sub-module; the monitoring sub-module includes a capability for correlation, de-duping, event capture, and metric computation the mediation sub-module and the monitoring sub-module are enabled to pass observations-and object meta-data is passed to the discovery sub-module; the analysis module analyzes compliance with the classification policy, and such that the analysis module further performs trending, profiling, and threshold analysis, and is communicatively coupled to the strategize module; the service interface communicates with the model-based management layer; the mediation layer communicates with the model-based management layer through the service interface for managing resources that have service providers that are not compliant with architectural specifications in service interface requirements of the model-based management layer, the virtualization layer abstracts information about the managed resources that communicates with the model-based management layer through the service interface, and the execute module comprises a services sub-module and an orchestration sub-module, the services sub-module performs the services of provisioning, initializing, load balancing, tuning, quiescing/restarting, element management, and configuration and change management; the services sub-module issues service invocations to the mediation layer; the service issues messages to resource providers for the managed resources through the virtualization layer; and the execute module executes the solution to ensure compliance with the classification policy.