In recent years, Cloud computing has been emerging as the next big revolution in both computer networks and Web provisioning. Because of raised expectations, several vendors, such as Amazon and IBM, started designing, developing, and deploying Cloud solutions to optimize the usage of their own data centers, and some open-source solutions are also underway, such as Eucalyptus and OpenStack. Cloud architectures exploit virtualization techniques to provision multiple Virtual Machines (VMs) on the same physical host, so as to efficiently use available resources, for instance, to consolidate VMs in the minimal number of physical servers to reduce the runtime power consumption. VM consolidation has to carefully consider the aggregated resource consumption of co-located VMs, in order to avoid performance reductions and Service Level Agreement (SLA) violations. While various works have already treated the VM consolidation problem from a theoretical perspective, this paper focuses on it from a more practical viewpoint, with specific attention on the consolidation aspects related to power, CPU, and networking resource sharing. Moreover, the paper proposes a Cloud management platform to optimize VM consolidation along three main dimensions, namely power consumption, host resources, and networking. Reported experimental results point out that interferences between co-located VMs have to be carefully considered to avoid placement solutions that, although being feasible from a more theoretical viewpoint, cannot ensure VM provisioning with SLA guarantees.