In general, the invention relates to a non-transitory computer readable medium comprising instructions, which when executed by a processor perform a method. The method includes obtaining lock overhead times for a plurality of threads, generating a set of thread groups, wherein each of the plurality of threads is assigned to one of the plurality of thread groups based on the lock overhead times, allocating at least one core of a multi-core system to each of the plurality of thread groups, and assigning a time-quantum for each of the plurality of thread groups, wherein the time-quantum for each of the plurality of thread groups corresponds to an amount of time that threads in each of the plurality of thread groups can execute on the at least one allocated core.