I'm  not familiar with any variability issues that may arise out of 
running under z/VM but I would guess that guest systems might find 
more CPU variability than when running just under PR/SM.  But that's 
just a guess.

My experience has been that when we moved from z900 to z9s we 
saw an increase in CPU time variation.  When we moved from z9s to 
z10s we saw a larger increase in that variation.  I believe the reason 
for this is the increased sensitivity to processor cache misses.  (E.G. 
memory speed is not keeping up with CPU speed.)

I've seen 10% variations on my z10s, but primarily when they're more 
heavily loaded.  At some point I'd like to do a bit of studying on that 
and attempt to correlate the variation back to the numbers from HIS, 
but I haven't done that yet.

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