Allocation and regulation of CPU entitlement for virtual processors in logical partitioned platform

A system, method, and computer program product for managing processor entitlement of virtual processors in logical partitioned data processing system. One embodiment of the invention provides a method of managing processing resources in a data processing system. The method involves creating a resource set comprising a grouping of virtual processors, and allocating a processing resource entitlement the resource set. The method also includes assigning the resource set to a workload, receiving a request by the workload for utilization of processing resources, and in response to receiving the workload request dispatching the assigned resource set. The method further includes determining whether the dispatched virtual processors of the resource set have exceeded the assigned processing resource entitlement, and in response to determining that the processing resource entitlement has been exceeded, undispatching the resource set.