Systems, methods and computer program products manage computing resources for a system. A system includes a set of processors having multiple processor cores present in the computer system, where the processor cores form an aggregated set of processor cores for the system. A dependency analyzer determines dependencies among a set of workload components executing on the set of processor cores. A policy includes rules associated with managing one or more of power consumption, heat production, operating cost or workload balancing for the set of aggregated processor cores. In response to a workload event, a management component sets a state of one or more of the processor cores in accordance with the workload event, the policy and the set of dependencies.