The parallel nature of process execution on chip multiprocessors (CMPs) has considerably boosted levels of application performance in the past decade. Generally, a certain number of computing resources are shared among the several cores of a CMP, such as shared last-level caches, shared-buses, and shared-memory. This ensures architectural simplicity while also boosting performance for multi-threaded applications. However, a consequence of sharing computing resources is that concurrently executing applications may suffer performance degradation if their collective resource requirements exceed the total amount of resources available. If resource allocation is not carefully considered, the potential performance gain from having multiple cores may be outweighed by the losses due to contention among processes for shared resources. Furthermore, CMPs with inbuilt dynamic voltage-frequency scaling (DVFS) may try to compensate for the performance loss by scaling to a higher frequency. For performance degradation due to shared-resource contention, this does not necessarily improve performance but guarantees a significant penalty on power consumption due to the quadratic relation of electrical power and voltage (P ∝ V^{2}*f).