A method comprises defining a scheduler parameter for a maximum allocation of capacity of a shared resource to a consumer for a scheduling interval. Utilization of an allocated capacity of the shared resource by the consumer during a given scheduling interval is measured, and when the allocated capacity of the shared resource is completely utilized by the consumer during the given scheduling interval, the scheduler increases the allocated capacity of the shared resource to the defined maximum allocation for the consumer for a next scheduling interval. Thus, rather than gradually increasing the allocation of capacity over many intervals, the scheduler immediately increases the allocation to a predefined maximum amount in response to an allocated amount of capacity being completely utilized during a scheduling interval.