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AWS FinOps: Cost Management & Optimization

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This learning path has been designed to focus on the cost management and optimization techniques when using AWS. It doesn't matter if you are new to AWS or you have 1000's of resources running across multiple accounts, understanding your cloud costs is essential to ensure that you maintain your costs and do not go over your budgets. There are some great techniques to use at the management level, in addition to some effective features that you can implement at the service level to help you manage and optimize your AWS resource costs.  

In this learning path, we will cover a number of these techniques to help you understand how you can manage those costs and ensure you are architecting your solutions in a cost-effective manner.

Learning Objectives:

  • Get a foundational understanding of cost optimization in AWS
  • Learn the fundamentals of cloud economics including economies of scale, the total cost of ownership, and why cost optimization is important
  • Learn about the AWS pricing calculator, the billing dashboard, and AWS Credits
  • Learn about the AWS Well-Architected Framework and how it can help to make your AWS environment more efficient and cost-effective
  • Understand a range of terminology linked to cost management in AWS
  • Learn how to use the Cost Explorer to perform cost analysis
  • Understand how to produce cost and usage reports
  • Learn how creating a budget in AWS can help you manage your costs
  • Understand what KPIs are and how they are used
  • Learn about the most commonly used KPIs in a FinOps context
  • Learn about AWS-generated cost allocation tags
  • 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
  • Understand the various pricing metrics implemented across different storage services in AWS
  • Learn how to gain full insight into your expected costs without any hidden surprises appearing on your bill
  • Recognize and explain how to run and manage workloads on excess cloud capacity using Spot Instances. 

Prerequisites

To gain the most from this learning path you should be familiar with the basics of AWS and its core services, however, this is not essential.

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About the Author
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Stuart Scott
AWS Content Director
Students
235,786
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Stuart has been working within the IT industry for two decades covering a huge range of topic areas and technologies, from data center and network infrastructure design, to cloud architecture and implementation.

To date, Stuart has created 250+ courses relating to cloud computing reaching over 1 million+ students.

Stuart is a member of the AWS Community Builders Program for his contributions towards AWS.

He is AWS certified and accredited in addition to being a published author covering topics across the AWS landscape.

Stuart enjoys writing about cloud technologies and you will find many of his articles within our blog pages.

Covered Topics