In this paper, we illustrate the impact of dynamic resizability on parallel scheduling. Our ReSHAPE framework includes an application scheduler that supports dynamic resizing of parallel applications. We propose and evaluate new scheduling policies made possible by our ReSHAPE framework. The framework also provides a platform to experiment with more interesting and sophisticated scheduling policies and scenarios for resizable parallel applications. The proposed policies support scheduling of parallel applications with and without user assigned priorities. Experimental results show that these scheduling policies significantly improve individual application turn around time as well as overall cluster utilization.