Systems and methods are provided for optimizing the performance and/or allocation of constrained resources in a dynamic computing environment using adaptive regulatory control methods. For example, systems and methods for providing constrained optimization in a dynamic computing system implement model-based adaptive (self-tuning) regulatory control schemes that are designed to handle the system dynamics and which take into consideration control costs (such as the overheads of changing resource allocations and performance degradation due to transient load imbalances) to find an optimal solution. To facilitate practical application, a dual control architecture is disclosed which combines a heuristic fixed step control process that is implemented when there is no valid system model for model-based control. A system model is continually obtained and validated during run-time to adapt control parameters to variations in system dynamics.