AWS Best Practices for Cost Management & Monitoring
Learn about the formal AWS Cost Optimization best practices around management and monitoring.
We'll cover the following...
We've loosely structured this course around the AWS Cost Optimization best practices. However, those best practices are pretty general and not very prescriptive. In this course, we hope to provide more actionable advice and suggestions. Nonetheless, we should be familiar with these formal recommendations, as they might help create project plans and audit procedures.
These best practices are built around ten high-level questions. These questions are designed to provoke thought around how our organizations might better optimize cost. Within each topic, AWS has provided a set of more detailed suggestions, which are the actual best practices.
Practice cloud financial management
Broadly, AWS recommends that we practice cloud financial management and provides us with some thought-provoking questions and suggestions on how to do that.
COST 1: How do you implement cloud financial management?
Under this very broad question, AWS hopes we'll consider how we are setting up our organization and processes.
COST01-BP01—Establish a cost optimization function: AWS recommends that we create a specific role or group responsible for cost optimization. This makes sense because if no one has ownership then no one will have accountability. A Cloud Center of Competence is a common organizational function that companies establish for this purpose.
COST01-BP02—Establish a partnership between finance and technology: In most well-functioning organizations, partnerships exist across organizational boundaries, and the expertise of each is leveraged. A partnership between finance and IT is vital for cost optimization.
COST01-BP03—Establish cloud budgets and forecasts: If we are just ...