Cloud computing has become the infrastructure of choice for building and delivering software services. A key challenge for service providers is effectively managing cloud resources in order to increase profit while maintaining service-level agreements (SLAs) with customers. To address this challenge, this paper proposes a combination of automated mechanisms for resource and execution management. The resource management mechanisms, namely, under-provisioning and contract rescission, reduce resource allocation costs and minimize penalties incurred when performance objectives are violated. The execution management mechanisms, namely, crash recovery and delay recovery, minimize penalties incurred when reliability objectives are violated. The mechanisms are integrated in the Qu4DS framework and evaluated in the Grid'5000 testbed. The results show that the under-provisioning mechanism increases profit by 20–50%, the contract rescission mechanism increases profit up to four times, and the execution management mechanisms increase profit by up to 60%.