To alleviate the system performance unpredictability of multitasking applications running on multiprocessor platforms with shared memory hierarchies we propose a task level set based cache partitioning. We evaluate our approach on a CAKE platformwith three Trimedias, one MIPS and a shared level 2 cache using a picture in picture benchmark. We compare the performance implications of two types of cache partitioning namely set based. Our experiments indicates that associativity based cache partitioning induces at least 30% performance degradation, whereas set-based partitioning provide 27% performance improvement when compared to non-partitioned cache scenario.