Dave, HSM has 2 methods to dynamically address volumes going over threshold: 
Interval Migration and On Demand Migration.  Interval Migration runs hourly and 
processes volumes that went over threshold during the previous hour.  The 
preferred method is the On Demand Migration technique.  With ODM, as soon as a 
volume goes over threshold, SMS throws an ENF that HSM listens to and 
immediately space manages the volume.  Windows can be defined to quiesce this 
activity during specific times, such as when critical production workloads are 
running.

It's time to add more storage when the HSM space management runs to completion 
and a volume still doesn't get under threshold.

If you're new to DFSMS, we have a series of recorded DFSMS Academy sessions: 
https://ibm.ent.box.com/s/w2jpq95ydynpztbjwdplw3l0hoipl0i8

If you're new to DFSMShsm, we have an entire series of recorded DFSMShsm 
Academy sessions:
https://ibm.ent.box.com/v/DFSMS-Academ-DFSMShsm2021

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