1. A method for providing autonomic policy management of a networked system, comprising: identifying behavior goals associated with the networked system; expressing goals as thresholds on values of a set of observables representing properties of a managed system or as thresholds on values of a set of resources used to service requests from applications; identifying workload characteristics of the networked system; determining resource utilization of the networked system; determining whether the identified behavior goals are being met based on the identified workload characteristics and determined resource utilization; and autonomically adjust the identified workload characteristics and determined resource utilization in response to a determination that the identified behavior goals are not being met, whereby, the autonomic adjustment provides for dynamically adjusting the identified workload characteristics and the determined resource utilization to a level in which the identified behavior goals are being met.