1. A non-transitory machine readable storage medium having instructions embodied thereon, the instructions being executed by a processor to cause a computer system to: identify a launch plan for launching a computing instance in a computing service environment; determine, using a launch time prediction model, a predicted launch time for launching the computing instance on a selected physical host in the computing service environment; generate a service level agreement (SLA) that defines acceptable launch times for launching the computing instance in the computing service environment based in part on the predicted launch time; identify an actual launch time for launching the computing instance in the computing service environment; comparing the actual launch time for launching the computing instance with the acceptable launch times defined in the SLA; determine that the actual launch time for launching the computing instance in the computing service environment does not comply with the SLA; and generate an alert when the actual launch time for launching the computing instance in the computing service environment does not comply with the SLA.