A technique for managing pooled resources in a distributed computing environment includes a resource manager executable to receive resource allocation requests from a plurality of workload managers for running one or more applications. The applications are initiated by a consumer through the workload managers. Each workload manager is configured to translate demand requests from the applications into resource allocation requests. A determination is made whether there are available resources to satisfy the resource requests according to a resource allocation policy. Resources are allocated to the workload managers where the applications can continue running on the allocated resources if the resource manager suffers downtime or is taken offline. The resource allocation policy is determined by a consumer profile of the consumer specifying ownership and share rights to the requested resources.