Well, first of all if you are not so sure about PowerVM virtualization, I would recommend that you take look at the below site:
https://www.ibm.com/developerworks/w...alization/Home
It also includes lots of videos on how PowerVM works, what LPAR is, what physical CPU and virtual CPU, how PowerVM manages CPU and memory pools, and many more.
There are very good IBM RedBooks as well on PowerVM and virtualization.
Besides the specific features, PowerVM hypervisor is no different than VMWare ESX or Citrix XEN. LPAR is just a fancy name of a "virtual machine". But PowerVM leaves the others out of the race taking full advantage of Power systems in optimized usage of the resources. Thus, very interesting to learn.
Good that you have interest on the platform you are working on. I have a very vague idea about SAS, but I am one of the admins who is responsible for the AIX and other UNIX servers on which SAS runs for our client.
It's always a good idea to be aware of the surroundings!