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Cloud Cost Management Checklist
Resource Inventory Management
Identify and catalog all cloud resources.
Tag resources with relevant metadata for tracking.
Regularly review and update resource inventories.
Utilize automated tools for resource discovery and monitoring.
Establish policies for resource provisioning and de-provisioning.
Cost Allocation and Budgeting
Define and assign cost centers for different departments.
Set up budgets and alerts for each cost center.
Implement chargeback or showback models to allocate costs.
Review and adjust budgets based on historical spending patterns.
Use detailed billing reports to analyze cost drivers.
Resource Optimization
Identify underutilized or idle resources and take action.
Right-size instances based on workload requirements.
Optimize storage costs by using appropriate storage classes.
Review and manage reserved instances and savings plans.
Leverage auto-scaling to match resource allocation with demand.
Cost Monitoring and Reporting
Set up cost and usage reports to be generated regularly.
Monitor real-time spending with dashboards and alerts.
Analyze trends and anomalies in cost and usage data.
Use tagging and labeling for detailed cost tracking.
Share regular cost reports with stakeholders.
Vendor Management and Negotiation
Review vendor pricing and discount opportunities.
Negotiate enterprise agreements for better pricing.
Evaluate and compare costs across multiple cloud providers.
Monitor changes in pricing and update cost management strategies.
Engage with vendor support for cost-saving recommendations.
