The parallel nature of process execution on Chip Multi-Processors (CMPs) has boosted levels of application performance far beyond the capabilities of erstwhile single-core designs. Generally, CMPs offer improved performance by integrating multiple simpler cores onto a single die that share certain computing resources among them such as last-level caches, data buses, and main memory. This ensures architectural simplicity while also boosting performance for multi-threaded applications. However, a major trade-off associated with this approach is that concurrently executing applications incur performance degradation if their collective resource requirements exceed the total amount of resources available to the system. If dynamic resource allocation is not carefully considered, the potential performance gain from having multiple cores may be outweighed by the losses due to contention for allocation of shared resources. Additionally, CMPs with inbuilt dynamic voltage-frequency scaling (DVFS) mechanisms may try to compensate for the performance bottleneck by scaling to higher clock frequencies. For performance degradation due to shared-resource contention, this does not necessarily improve performance but does ensure a significant penalty on power consumption due to the quadratic relation of electrical power and voltage (P_dynamic ∝ V^2 * f).This dissertation presents novel methodologies for balancing the competing requirements of high performance, fairness of execution, and enforcement of priority, while also ensuring overall power efficiency of CMPs. Specifically, we (1) Analyze the problem of resource interference during concurrent process execution and propose two fine-grained scheduling methodologies for improving overall performance and fairness, (2) Develop an approach for enforcement of priority (i.e., minimum performance) for specific processes while avoiding resource starvation for others, and (3) Present a machine-learning approach for maximizing the power efficiency (performance-per-Watt) of CMPs through estimation of a workload's performance and power consumption limits at different clock frequencies.As modern computing workloads become increasingly dynamic, and computers themselves become increasingly ubiquitous, the problem of finding the ideal balance between performance and power consumption of CMPs is of particular relevance today, especially given the unprecedented proliferation of embedded devices for use in Internet-of-Things, edge computing, smart wearables, and even exotic experiments such as space probes comprised entirely of a CMP, sensors, and an antenna ("space chips"). Additionally, reducing power consumption while maintaining constant performance can contribute to addressing the growing problem of dark silicon.