“Percentage of time that the virtual machine was ready, but could not get scheduled to run on the physical CPU.”
Looking through the Hyper-V performance counters and their description on Windows Server 2012/2012 R2, the Hyper-V Hypervisor Virtual Processor\CPU Wait Time Per Dispatch counter provides the following description:
“The average time (in nanoseconds) spent waiting for a virtual processor to be dispatched onto a logical processor.”
Unfortunately this counter is new in Windows Server 2012 Hyper-V and doesn’t exist in Windows Server 2008 or 2008 R2. However, moving forward this counter should provide similar information about VMs waiting to execute on physical processor resources similar to what we’ve had with VMware CPU Ready.