A method and system for managing power consumption and performance of computing systems are described herein. The method includes monitoring an overall power consumption of the computing systems to determine whether the overall power consumption is above or below an overall power consumption limit, and monitoring a performance of each computing system to determine whether the performance is within a performance tolerance. The method further includes adjusting the power consumption limits for the computing systems or the performances of the computing systems such that the overall power consumption is below the overall power consumption limit and the performance of each computing system is within the performance tolerance.