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  5. AWS Cost Management: Cost Allocation

Summary

Contents

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AWS Cost Allocation
1
Introduction
PREVIEW1m 22s
2
Cost Allocation
PREVIEW9m 6s

The course is part of this learning path

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Overview
Difficulty
Beginner
Duration
11m
Students
46
Ratings
5/5
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Description

Costs in cloud environments can get complicated quickly. Therefore it is essential to provide transparency and responsibility to everyone in a business. In this course, you'll learn about cost allocation in AWS, including best practices and how to apply common strategies.

Learning Objectives

  • Understand the benefits of a cost allocation strategy and cost visualization
  • Learn how the maturity of a company impacts the type of cost allocation strategy it uses
  • Learn about various cost indicators in AWS
  • Understand how understanding your costs can help you forecast future costs

Intended Audience

This course is intended for anyone who wants to learn how to manage their AWS cloud costs effectively.

Prerequisites

To get the most out of this course, you should have a basic understanding of AWS, as well as finance and cloud terminology.

Transcript

So let‘s wrap up why we need a Cost Allocation strategy in our company!

The benefits of a consistent Cost Allocation strategy are:

  • More transparency in your business, which grants fewer conflicts for and between business leads and development teams.
  • Rising bills won‘t cause panic any longer because expenses are reasonable and better understood.
  • Payments can be forecasted, and budgets are planned in advance.
  • Cloud users and developers will gain much more awareness of costs and by holding 

them accountable for their actions, unnecessary cost drivers will be a thing of the past.

We've now come to the end of this course, and I hope you've enjoyed it. If you have any feedback for us at all, please write to support@cloudacademy.com. Thank you!

About the Author
Avatar
Heinrich Marks
FinOps Consultant
Students
114
Courses
4

Heinrich Marks and is a FinOps Consultant at kreuzwerker Frankfurt GmbH, Germany. His expertise lies in AWS cost optimization and FinOps methodology at the enterprise level. 
At kreuzwerker, we focus on AWS, Software Engineering, and Cloud Financial Management. We've faced many cases with our customers where costs in the cloud got out of hand and lost touch with the actual business values. This made us work harder on solutions and find ways to master financial management in the cloud. 
Over time, we have already been able to save our customers many millions of dollars. Moreover, we are also proud partners of the FinOps Foundation and the leading professionals in Germany. Today, we want to share this knowledge with you and spread more awareness on the topic!