Dynamic recovery-objective-based configuration of backup volumes

Dynamic configuration of backups of production volumes based on desired recovery objectives is provided. A system may obtain a recovery point objective ("RPO") for a particular production volume. The system may initially back up data, written to the production volume, to a storage volume with certain performance parameters. However, if the write operations to the production volume occur at a high enough rate and/or affect a large enough amount of data, there may be a lag in writing that data to the backup volume. The system may monitor the lag with respect to the specified RPO for backup of the production volume. If the lag approaches the RPO, then the system may dynamically change the configuration of the backup volume to better satisfy the RPO.