In a method for managing resources in a virtualized computing environment, a command to initiate execution of an operating system image dump process for a logical partition of the virtualized computing environment is received while the logical partition is in a process of terminating. One or more resources that are allocated to the logical partition that will not be utilized by the logical partition during execution of the operating system image dump process are determined. A notification to a hypervisor program in the virtualized computing environment is sent. The notification identifies the one or more resources. One of the one or more resources is reallocated. The operating system image dump process is executed.