We had some questions about a vm and its memory usage and the difference between "memory granted" and "memory consumed" was a bit confusing...until I found this PDF document:

http://www.xs4all.nl/~omerta/VI%203.5%20Memory%20Statistic%20Definitions.pdf

Basically, memory granted is the actual amount allocated to the guest and memory consumed is the amount of this memory actually being used (which is different from "active memory"). Memory granted and consumed may be different due to the memory similarities of another vm. So the consumed value could easily be below the granted value. Pretty neat stuff!