Customers of shared resources in a multi-tenant environment can have token buckets allocated that have an associated depth and fill rate, with each token enabling the customer to obtain an amount of work from a shared resource. A resource management system can monitor one or more system or output metrics, and can adjust a global fill rate based at least in part upon values of the monitored metrics. Such an approach can provide a fair distribution of work among the customers, while ensuring that the metrics stay within acceptable ranges and there are no drastic changes in performance levels of the system. The fill rate can update dynamically with changes in the monitored parameters, such that the system can float near an equilibrium point. Commitments for specific minimum service levels also can be met.