![]() Tagging helps to identify and assign costs to the correct owners. For example, an account or project may have multiple environments like production, development, and testing and may also host multiple applications. The FinOps team will need to build a tagging taxonomy that provides a consistent way of categorizing workloads. Tagging and labeling is metadata that is attached to cloud resources and will be a key enabler of allocating cloud cost to business units. Talk to key stakeholders and ask them what is missing and what they need from a successful cloud cost visualization tool. Many businesses also use a Special Projects view, where the cost of strategic initiatives is tracked separately as these have high visibility. This is when some of the workloads have prepayment savings applied while others don't, and the cost is averaged out between them. This is when the upfront cost of prepayment products is apportioned to workloads over the course of the lease duration. Another view of cost data is fully amortized cost. For example, Gross cost may be used when engineers forecast their workloads while Net cost is used to compare actual spend with the budget and can also be used for invoice reconciliation. When building a cloud cost reporting infrastructure you will need to consider that cost numbers may have different meanings. For example, a Finance person may want to see monthly Actuals versus Forecast on a company level while an engineering leader wants to see how his team is performing toward KPI goals and if there were any cost spikes. Different people within the organization have different needs. and by catering the reports to the viewer. We accomplish that by using a common language and well-documented cost metrics. Our goal is to deliver reliable and consistent reports and to work with the key stakeholders to build trust in the numbers presented. The Inform Phase makes use of the FinOps Principles number 3: "Everyone takes ownership for their cloud usage", and number 4: "FinOps reports should be accessible and timely". In the Inform Phase, we create and use the tags and labels, the account or project hierarchy, and other billing constructs to allocate cloud cost to the business units so that engineers and leadership have a near-real-time view of their cloud usage. Cloud FinOps: Collaborative, Real-Time Cloud Financial Management, O'Reilly Media 1st edition (January 7, 2020). ![]() The Anatomy of a Cloud Bill lecture references materials from: The FinOps Lifecycle section of this course references materials from: Some familiarity with rate reduction and cost avoidance methods in the cloud would also be helpful but are not essential. To get the most out of this course, you should have a foundational understanding of cloud concepts, specifically how compute and storage are provisioned and billed in the cloud. This course is for engineers, operations, and Finance people looking to understand how to improve efficiency and reduce cost in the cloud.
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