A method for measuring latencies caused by processing performed within a common resource is provided. A current latency value representing a time of residency of an IO request in a queue prior to receipt of acknowledgment from the common resource of completion of the IO request is received from a device comprising the queue, which maintains entries for IO requests that have been dispatched to and are pending at the common resource. An average latency value is calculated based in part on the current latency value. An adjusted capacity size for the queue is calculated based in part on the average latency value and the queue's capacity is set to the adjusted capacity size. IO requests are held in a buffer if the queue's capacity is full to reduce the effect of an amount of work transmitted to the common resource on current latency values provided by the device.