This paper introduces WIRE that manages resources for the DAG-based workflows on IaaS clouds. WIRE predicts and plans resources over the MAPE (Monitor-AnalyzePlan-Execute) loops to: 1) Estimate task performance with online data, 2) Conduct simulations to predict the upcoming loads based on online estimates and workflow DAGs, 3) Apply a resource-steering policy to size cloud instance pools for the maximal parallelism that is consistent with low cost. We implement WIRE on Pegasus WMS/HTCondor and evaluate its performance on the ExoGENI network cloud. The results show that WIRE attains low resource cost with the performance that is typically within a factor of two of optimal.