1. A method for chargeback cost allocation in an information technology (IT) system including multiple resources, the method comprising: categorizing cost attributes of different resources into multiple levels defining a cost attribute hierarchy; defining different chargeback groups for resources with similar cost attributes and chargeback policies at different levels of the hierarchy; and performing chargeback cost allocation by allocating the cost for resources at each hierarchy level independently using chargeback policies defined for the resources at that hierarchy level.