Provides a method for measuring the busy utilization time for I/O channel used by any of plural operating systems (OSs) in a CEC. The measured utilization time for any OS excludes the time shared channels are utilized by other OSs during a measurement period. A channel measurement facility (CMF) is provided in the I/O subsystem hardware and microcode for each of the OSs in the I/O subsystem. The CMF is logically constructed because it uses only a small portion of I/O resources already existing in a CEC by adding microcode to control these resources to perform the time measurement function. The resources for a logical CMF including the partial use of: an I/O processor to store identifiers of an assigned OS, the partial use of channel processors controlling channels selected by the assigned OS during a measurement period, the local storage of each I/O processor, and OS storage needed for communicating the measurement data from the CMF to the OS. Any CPU can control a measurement by issuing "set channel measurement" instructions for starting and stopping a measurement performed asynchronously by the CMF to release the CPU for other independent CPU operations during a measurement period. The instruction can also be used to test the status of any CMF.