Common FinOps Scenarios

Modified on Mon, 08 Apr 2024 at 02:34 PM

FinOps combines financial management with cloud operations. It helps organizations optimize cloud spending while maintaining operational efficiency. Key aspects include visibility, accountability, optimization, governance, and collaboration. By bridging the gap between finance and technology, FinOps enables informed decisions, cost control, and value maximization in cloud environments. Below is some FinOps scenarios which CloudMonitor can help to achieve:

  1. The CIO wants a monthly report on how spend is tracking across the entire project portfolio.
  2. Each Program Manager wants a monthly snapshot of their Project Costs.
  3. A Program Manager wants to know if their use of VMs is trending downwards.
  4. A Program Manager wants to understand the cost of their DEV Environment versus their PROD Environment for their Cost Group
  5. A Tech Lead wants to understand what caused a cost spike.
  6. A Program Manager wants to be alerted if they are forecasted to exceed their monthly budget.
  7. FinOps Team want to review all the cloud resources created in the last month to ensure they are optimally configured.
  8. IT want to fix mis-tagged resources so that cost allocation is correct.
  9. IT have on-prem licenses and want to make sure all VMs are taking advantage of Azure Hybrid Licenses.
  10. The FinOps Team want to understand how much was saved because we used a Reservation on a VM.

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