Priority based management of access to shared resources

A system, computer readable medium and a method that may include performing multiple iterations of: determining, by each active initiator of the multiple initiators, a number of pending access requests generated by the active initiator, wherein each access request is a request to access a shared resource out of the shared resources; determining, by each active initiator, a priority level to be assigned to all pending access requests generated by the active initiator, wherein the determining is based on the number of pending access requests generated by the active initiator, a number of active initiators out of the multiple initiators, and a number of access requests serviceable by the shared resource; for each active initiator, informing an arbitration hardware of a network on chip about the priority level to be assigned to all pending access requests generated by the active initiator; and managing access to the shared resources, by the arbitration hardware, based on the priority level to be assigned to all pending access requests generated by each active initiator.