In order to integrate business requirements and application level needs, in terms of Quality of Service (QoS), cloud service provisioning is regulated by Service Level Agreements. In this paper, we present a stochastic model, based on Stochastic Reward Nets (SRNs), that exhibits features allowing capturing the key concepts of an IaaS cloud system. The proposed model is scalable enough to represent systems composed of thousands of resources and it makes possible to represent both physical and virtual resources exploiting cloud specific concepts such as the infrastructure elasticity. With respect to the existing literature, the innovative aspect of the present work is that a generic and comprehensive view of a cloud system is presented. Low level details, such as VM multiplexing, are easily integrated with cloud based actions such as federation, allowing investigating different mixed strategies. An exhaustive set of performance metrics are defined regarding both the system provider (e.g., utilization) and the final users (e.g., responsiveness). Finally, to provide a fair comparison among different resource management strategies, also taking into account the system elasticity, a performance evaluation approach is described.
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