Methods and systems for monitoring and controlling a service level agreement are disclosed. A disclosed embodiment comprises a cloud platform hosting at least one application associated with at least one service level agreement, a monitoring module for collecting at least one metric relating to an application hosted on the cloud platform and terms of a service level agreement associated with each of the one or more metrics, and monitoring the metric collected against a service level objective in the service level agreement. The system may additionally comprise a controlling module for mapping a service level objective to a predefined operation rule, identifying one or more actions to be taken in accordance with the rule, assigning a priority to the one or more actions identified in accordance with the rule; and performing the one or more actions in accordance with the assigned priority of each of the one or more actions.