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Operational Excellence
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- Resources have identified owners
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- Executive Sponsorship
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Security
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Reliability
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- How do you ensure sufficient gap between quotas and maximum usage to accommodate failover?
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- Monitor end-to-end tracing of requests through your system
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- Monitor End-to-End Tracing of Requests Through Your System
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- Monitor all components of the workload to detect failures
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Cost Optimization
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- Establish ownership of cost optimization
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- Perform cost analysis for different usage over time
- Analyze all components of this workload
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- Select components of this workload to optimize cost in line with organization priorities
- Perform cost analysis for different usage over time
- Select software with cost effective licensing
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Performance
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- Learn about and understand available cloud services and features
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- Use purpose-built data store that best support your data access and storage requirements
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Sustainability
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- Optimize geographic placement of workloads based on their networking requirements
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- Stop the creation and maintenance of unused assets
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- Optimize software and architecture for asynchronous and scheduled jobs
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- Optimize areas of code that consume the most time or resources
- Optimize impact on devices and equipment
- Use software patterns and architectures that best support data access and storage patterns
- Remove unneeded or redundant data
- Use technologies that support data access and storage patterns
- Use policies to manage the lifecycle of your datasets
- Use shared file systems or storage to access common data
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- Use elasticity and automation to expand block storage or file system
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- Articles coming soon
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Report and notify on cost optimization
PostedDecember 20, 2024
UpdatedDecember 20, 2024
ByKevin McCaffrey
Implementing effective cloud financial management is crucial for organizations to optimize their AWS usage and costs. By setting up cloud budgets and configuring tools to detect anomalies in usage, organizations can gain insights into their spending and ensure they are getting the most value from their cloud investments.
Best Practices
- Cloud Budgeting: Establish clear cloud budgets aligned with business objectives. Regularly review and adjust these budgets to respond to changes in business needs or resource consumption, ensuring proactive management of cloud spending.
- Anomaly Detection: Utilize AWS Cost Explorer and other analytical tools to detect spending anomalies. Set thresholds for alerts and notifications that can immediately inform stakeholders of unexpected cost increases, enabling prompt action.
- Regular Monitoring: Conduct regular reviews of your cloud expenditures using integrated dashboards. Engaging with AWS services that provide detailed cost breakdowns allows teams to make informed adjustments to operational strategies.
Supporting Questions
- Do you have clear budgets in place for your cloud resources?
- Are there processes to regularly review cost reports and alerts for anomalies?
- Is the team trained to act on financial findings and adjust workloads accordingly?
Roles and Responsibilities
- Cloud Financial Manager: Responsible for overseeing cloud budgets, analyzing spending, and ensuring resources are utilized efficiently. This role involves collaborating with technical teams to optimize costs based on usage patterns.
- DevOps Engineer: Integrates budget constraints and cost optimization practices into deployment strategies. Their responsibility includes implementing monitoring solutions and automating alerts for efficient resource management.
Artifacts
- AWS Budgets: AWS Budgets lets you set custom cost and usage budgets that alert you when you exceed your thresholds. This tool is vital for tracking spending and ensuring budget compliance.
- Cost Explorer: AWS Cost Explorer allows you to analyze your spending patterns over time with visualizations. It aids in understanding cost trends which is essential for informed decision-making.
Cloud Services
AWS
- AWS Cost Explorer: AWS Cost Explorer provides the ability to view and analyze your costs and usage patterns, making it easier to identify trends and anomalies in spending.
- AWS Budgets: Enables you to set up budget thresholds and receive alerts, ensuring that teams are informed when spending exceeds predefined limits.
- AWS CloudTrail: AWS CloudTrail allows you to monitor and log account activity, thus aiding in governance, compliance, and financial management by tracking changes to AWS resources.
Question: How do you implement cloud financial management?
Pillar: Cost Optimization (Code: COST)
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