MACOST 1: How is cost optimization
progressing with AWS hosting for both companies?
Carelessness or lack of oversight can cut into company profitability and growth. Reducing costs can likely be achieved and savings can be reinvested to improve the growth of a company. Establish policies and procedures to monitor and appropriately allocate your costs. This allows you to measure and improve the cost efficiency of workloads. Perform pricing model analysis for combined entity feature in AWS Cost Explorer.
MACOST01-BP01 Perform
pricing model analysis for the combined entities
Analyze each component of the workload. Determine if the component and resources should be running for extended periods (for commitment discounts) or dynamic and short-running (for Spot or On-Demand Instances). Perform an analysis on the workload using the recommendations feature in AWS Cost Explorer.
MACOST01-BP02 Optimize
accounts through various means, such as EC2 instance types,
Savings Plans, and Amazon S3 lifecycle
Use AWS Trusted Advisor to examine current cost savings and possible additional savings.
MACOST01-BP03 Discover
and realize additional cost savings
Explore means for additional cost savings, and use AWS Cost Explorer to evaluate costs. Choose an optimized savings plan for the combined entity, and work with AWS teams to use Reserve Instances or Savings Plans across companies if possible.
MACOST01-BP04 Migrate to
Regions based on cost
Resource pricing can be different in each Region. Factoring in Region cost verifies that you are paying the lowest overall price for a workload.
MACOST01-BP05 Use
managed services for lower TCO
Understand how proper use of managed services can lower TCO.
MACOST01-BP06 Select
third-party agreements with cost efficient terms
Cost-efficient agreements and terms scale the cost of these services with the benefits they provide. Select agreements and pricing that scale when they provide additional benefits to your organization.
