Cloud computing is the availability and management of a large number of resources without the involvement of users. The Characteristics of Cloud Environment are its elasticity, availability, and scalability of the resources which is done by sharing the cloud resources. Resource monitoring and prediction are the keys to achieve resource utilization with high-performance management in cloud computing. Resource scheduling is one of the major issues of cloud computing, the scheduling policy and algorithm affect the performance of the cloud system directly. Moreover, Load balancing is also one of the major aspects which are the process of distributing the load on various nodes providing the best resource utilization when nodes are overloaded. The major focus of this work is to develop a space shared resource sharing technique that allows one job to utilize the available resource at a time as per the requirement for job completion. The Proposed System also provides optimal resource sharing and Load balancing by utilizing the Optimized Throttled Load Balancing Algorithm (OTLBA). In order to optimize resources scheduling of cloud computing and to improve the utilization ratio of the resource as well as guarantee application quality of service, the dynamic resources scheduling based on the Optimal Load balancing algorithm has been designed and implemented.