From the course: FinOps Essentials for Cloud Deployments

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Setting up cloud cost governance

Setting up cloud cost governance

From the course: FinOps Essentials for Cloud Deployments

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Setting up cloud cost governance

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- [Instructor] Cloud spending governance is the ability to place guardrails around spending by setting up policies that can be enforced. This is mostly about limiting spending to predetermined budgets by setting spending thresholds using policies for perhaps a specific amount of time. This can also limit other things, such as cloud usage, that while they may be within budgetary limitations, are not driving the business value that's needed to justify the spending. Cost governance is an important aspect of finops considering that we need to set up limitations and metrics that control how cloud spending is occurring and how cloud spending is related to the return of value to the business. Governance is often looked upon as a negative concept considering that we're limiting or controlling something. However, if it does not exist as part of finops, you'll be dealing with spending overages that you may not be able to recover from.…

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