COST01-BP06 Monitor cost proactively
Implement tooling and dashboards to monitor cost proactively for the workload. Regularly review the costs with configured tools or out of the box tools, do not just look at costs and categories when you receive notifications. Monitoring and analyzing costs proactively helps to identify positive trends and allows you to promote them throughout your organization.
Level of risk exposed if this best practice is not established: Medium
Implementation guidance
It is recommended to monitor cost and usage proactively within your organization, not just when there are exceptions or anomalies. Highly visible dashboards throughout your office or work environment ensure that key people have access to the information they need, and indicate the organization’s focus on cost optimization. Visible dashboards allow you to actively promote successful outcomes and implement them throughout your organization.
Create a daily or frequent routine to use AWS Cost Explorer
Implementation steps
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Report on cost optimization: Set up a regular cycle to discuss and analyze the efficiency of the workload. Using the metrics established, report on the metrics achieved and the cost of achieving them. Identify and fix any negative trends, and identify positive trends to promote across your organization. Reporting should involve representatives from the application teams and owners, finance, and management.
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Create and activate daily granularity AWS Budgets
for the cost and usage to take timely actions to prevent any potential cost overruns: AWS Budgets allow you to configure alert notifications, so you stay informed if any of your budget types fall out of your pre-configured thresholds. The best way to leverage AWS Budgets is to set your expected cost and usage as your limits, so that anything above your budgets can be considered overspend. -
Create AWS Cost Anomaly Detection for cost monitor: AWS Cost Anomaly Detection
uses advanced Machine Learning technology to identify anomalous spend and root causes, so you can quickly take action. It allows you to configure cost monitors that define spend segments you want to evaluate (for example, individual AWS services, member accounts, cost allocation tags, and cost categories), and lets you set when, where, and how you receive your alert notifications. For each monitor, attach multiple alert subscriptions for business owners and technology teams, including a name, a cost impact threshold, and alerting frequency (individual alerts, daily summary, weekly summary) for each subscription. Use AWS Cost Explorer or integrate your AWS Cost and Usage Report (CUR) data with Amazon QuickSight dashboards to visualize your organization’s costs: AWS Cost Explorer has an easy-to-use interface that lets you visualize, understand, and manage your AWS costs and usage over time. The Cost Intelligence Dashboard
is a customizable and accessible dashboard to help create the foundation of your own cost management and optimization tool.
Resources
Related documents:
Related examples:
