To abstract physical into virtual computing infrastructures is a longstanding goal. Efforts in the computing industry started with early work on virtual machines in IBM's VM370 operating system and architecture, continued with extensive developments in distributed systems in the context of grid computing, and now involve investments by key hardware and software vendors to efficiently virtualize common hardware platforms. Recent efforts in virtualization technology are driven by two facts: (i) technology push---new hardware support for virtualization in multi- and many-core hardware platforms and in the interconnects and networks used to connect them, and (ii) technology pull---the need to efficiently manage large-scale data-centers used for utility computing and extending from there, to also manage more loosely coupled virtual execution environments like those used in cloud computing. Concerning (i), platform virtualization is proving to be an effective way to partition and then efficiently use the ever-increasing number of cores in many-core chips. Further, I/O Virtualization enables I/O device sharing with increased device throughput, providing required I/O functionality to the many virtual machines (VMs) sharing a single platform. Concerning (ii), through server consolidation and VM migration, for instance, virtualization increases the flexibility of modern enterprise systems and creates opportunities for improvements in operational efficiency, power consumption, and the ability to meet time-varying application needs. This thesis contributes (i) new technologies that further increase system flexibility, by addressing some key problems of existing virtualization infrastructures, and (ii) it then directly addresses the issue of how to exploit the resulting increased levels of flexibility to improve data-center operations, e.g., power management, by providing lightweight, efficient management technologies and techniques that operate across the range of individual many-core platforms to data-center systems. Concerning (i), the thesis contributes, for large many-core systems, insights into how to better structure virtual machine monitors (VMMs) to provide more efficient utilization of cores, by implementing and evaluating the novel Sidecore approach that permits VMMs to exploit the computational power of parallel cores to improve overall VMM and I/O performance. Further, I/O virtualization still lacks the ability to provide complete transparency between virtual and physical devices, thereby limiting VM mobility and flexibility in accessing devices. In response, this thesis defines and implements the novel Netchannel abstraction that provides complete location transparency between virtual and physical I/O devices, thereby decoupling device access from device location and enabling live VM migration and device hot-swapping. Concerning (ii), the vManage set of abstractions, mechanisms, and methods developed in this work are shown to substantially improve system manageability, by providing a lightweight, system-level architecture for implementing and running the management applications required in data-center and cloud computing environments. vManage simplifies management by making it possible and easier to coordinate the management actions taken by the many management applications and subsystems present in data-center and cloud computing systems. Experimental evaluations of the Sidecore approach to VMM structure, Netchannel, and of vManage are conducted on representative platforms and server systems, with consequent improvements in flexibility, in I/O performance, and in management efficiency, including power management.