http://www.vmwarewolf.com has a good article on Understanding VMware Roles and Permissions, This was a good for me, as I have am still very new to VMware.
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VMware Virtualcenter roles and permissions are one of the most commonly misunderstood aspects of Virtual Infrastructure 3. We constantly receive calls into tech support asking how-to assign the appropriate rights to users and their virtual machines, clusters, etc.
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Anything to help understand VMware’s roles and permissions is a good thing.
Read VI3 Roles and Permissions
Concepts behind this are explained in the paper Management VirtualCenter Roles and Permissions.
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A must read.