1. A method comprising: selecting a given hardware configuration for a given application workload based on aligning an application workload specification template with a first hardware configuration template in a first repository comprising a plurality of hardware configuration templates, wherein the plurality of hardware configuration templates specify respective different sets of heterogeneous elements providing compute, storage and network resources, and wherein the application workload specification template is generated by parsing and interpreting hardware-agnostic service level objective expressions of an application request; scheduling the given application workload to run on information technology infrastructure utilizing the given hardware configuration, the given hardware configuration comprising a first set of a plurality of heterogeneous elements of the information technology infrastructure; monitoring the information technology infrastructure; and modifying the given hardware configuration for the given application workload based on aligning the application workload specification template with a second hardware configuration template in the first repository responsive to said monitoring, the modified hardware configuration comprising a second set of the plurality of heterogeneous elements of the information technology infrastructure; wherein the method is performed by at least one processing device comprising a processor coupled to a memory; wherein modifying the given hardware configuration is responsive to determining that the modified hardware configuration satisfies one or more policies regarding scheduling application workloads to run on the information technology infrastructure; and wherein the one or more policies regarding scheduling the one or more workloads comprise at least one policy relating to modifying the given hardware configuration based on a remaining lifetime of the given application workload.