Embodiments of the invention address deficiencies of the art in respect to dynamic computing resource allocation, and provide a method, system and computer program product for dynamic resource allocation for disparate application performance requirements. In one embodiment of the invention, a resource allocation data processing system can include a shared resource pool including resources and a resource configurator coupled to the shared resource pool. The system further can include a service processor coupled to the resource configurator, wherein the service processor can include an application programming interface (API) exposing methods for commanding the resource configurator to configure the resources in the shared resource pool.