COST07-BP01 Perform pricing model analysis - AWS Well-Architected Framework (2022-03-31)
Implementation guidanceResources

COST07-BP01 Perform pricing model analysis

Analyze each component of the workload. Determine if the component and resources will 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.

Level of risk exposed if this best practice is not established: High

Implementation guidance

AWS has multiple pricing models that allow you to pay for your resources in the most cost-effective way that suits your organization’s needs.

Implementation steps

  • Perform a commitment discount analysis: Using Cost Explorer in your account, review the Savings Plans and Reserved Instance recommendations. To verify that you implement the correct recommendations with the required discounts and risk, follow the Well-Architected labs.

  • Analyze workload elasticity: Using the hourly granularity in Cost Explorer, or a custom dashboard. Analyze the workload elasticity. Look for regular changes in the number of instances that are running. Short duration instances are candidates for Spot Instances or Spot Fleet.

Resources

Related documents:

Related videos:

Related examples: