1. A method for implementing dynamic adjustment of Input/Output bandwidth for Virtual Machines using a Single Root Input/Output Virtualization (SRIOV) adapter comprising: providing the SRIOV adapter with a plurality of virtual functions (VFs); enabling each individual virtual function (VF) to be explicitly assigned to a Virtual Machine (VM); creating each of a plurality of VF teams with one or more VFs; each of the plurality of VF teams assigned to a predefined VM; and enabling the VF teams to be dynamically resizable for dynamic adjustment of the Input/Output bandwidth for the Virtual Machines.