A performance prediction simulator gives effect to the resource contention among multiple resources in a simulated system by adjusting event durations appropriately. A resource topology tree defining the resource configuration of the system is input to the simulator. The simulator includes an evaluation engine that determines the amount of resource used during each simulation interval of the simulation and records the resource usage in a resource contention timeline, which can be displayed to a user. The amount of resource used during a simulation is also used to adjust the event duration calculations of the hardware models associated with each event.