The KairosVM project is developing hypervisor-level real-time resource management polices and their implementations in a full virtualization setting (largely), targeting emerging multicore architectures. The goals of the policies include ensuring temporal isolation of guest virtual machines and satisfying guest application time constraints, with high efficiency and scalability (e.g., accommodating greater number of guests). Additional goals include supporting guest OS/application workloads with dynamically uncertain properties (e.g., on execution times, event arrivals), and I/O-intensive workloads through paravirtualized drivers. The project is also exploring how to migrate legacy real-time applications onto emerging multicore architectures through virtualization, without expensive re-validation of functional and timing correctness. The project is developing a real-time hypervisor architecture that encapsulates the resource management policies, and an implementation based on Linux-based hypervisors (e.g., KVM).