Cost Visibility
What is the process of identifying and attributing cloud costs to specific teams or projects
Cloud Cost Allocation (CCA)
What core principle of FinOps emphasizes shared responsibility between business and IT for cloud costs?
Shared Responsibility Model
What practice involves automatically scaling cloud resources up or down based on demand to avoid overprovisioning?
Autoscaling
What document details your cloud service usage and associated charges for a billing period?
Cloud Bill
A company identifies idle resources running 24/7. What FinOps principle suggests stopping or scheduling these resources to save costs?
Rightsizing
What cloud service provides detailed reports on resource usage and spending?
Cloud Billing Service
What is the continual process of planning, budgeting, monitoring, optimizing, and controlling cloud spending?
FinOps
What type of cloud instances are a good choice for workloads with spiky or unpredictable demand?
Spot Instances
What are different pricing models offered by cloud providers?
Pay-as-you-go, Reserved Instances, Subscription fees
A development team is provisioning new cloud resources for a short-term project. What FinOps practice would be most beneficial?
Using spot instances for cost-effective compute during the project timeframe.
What are tags used for in cloud cost management?
Categorizing and identifying resources for cost allocation and analysis.
Name the FinOps principle that encourages collaboration between business and IT to make informed decisions about cloud resources.
Business-IT Collaboration
How can rightsizing cloud resources help reduce costs?
By matching resource capacity to actual workload requirements.
How can understanding free tiers and service credits help manage cloud costs?
By optimizing resource usage to stay within free tiers and leveraging credits for additional services.
A company experiences a surge in cloud costs due to unexpected traffic. What FinOps principle can help identify the root cause and prevent future occurrences?
Continuous Monitoring
How can cost visibility tools help identify unused or underutilized resources?
By showing idle time or low utilization rates.
What FinOps principle focuses on continuously measuring the financial performance of the cloud?
Financial Accountability
What are reserved instances and how do they provide cost savings?
Discounted instances purchased in advance for a specific term and usage pattern.
What are different ways to pay your cloud bill?
Credit card, debit card, bank transfer
A team is migrating workloads to the cloud. What FinOps best practice should be followed to avoid migrating inefficient on-premises practices?
Cloud-Native Optimization
What is the benefit of using cost forecasting tools in FinOps?
To predict future cloud expenses and plan for potential cost spikes.
How does the "pay-as-you-go" cloud pricing model benefit FinOps?
It allows for only paying for the resources you use, promoting cost optimization.
What is serverless computing and how does it benefit resource optimization?
Pay only for the compute time used, eliminating costs associated with idle resources.
How can setting spending alerts help control cloud costs?
By notifying you when spending reaches predefined thresholds to allow for proactive adjustments.
A company wants to empower developers to make cost-conscious decisions. What FinOps practice can help achieve this?
Showback and Chargeback (providing cost visibility to development teams)