We propose an anytime algorithm for control when the processor resource availability is limited and time-varying. The basic idea behind the algorithmis to calculate the components of the control input vector sequentially tomaximally utilize the processing resources available at every time step. For the LQR case, we present a Markovian jump linear system formulation that provides analytical performance and stability expressions. For more general cases, we present and analyze a receding horizon control based formulation. The improvement in performance is also illustrated through numerical simulations.