Cost Management Update

Communication of the progress of your cost management initiative is important to keep things moving along and to maintain senior leadership buy in.

Below is an example of a comms you might do for a monthly update.  In this case we are looking at an update at the scope of the customer portal team where we have delegated cost management of that team to the IT Manager responsible for the Customer Portal Team.  Our FinOps expert can provide governance and accountability to the team to ensure they are on top of things.

My aim here is that you can use the below as a template to make it easy to provide updates.

Cost Management Update

KPI

• Average Cost per day = $250

• Cost Last Month = $9750

• Cost this month = $9000

Good News

• The average cost per day for the application has reduced from $325 to $250

• All environments are within budget

Bad News

• The new release introduced a misconfiguration which caused an anomaly detection

  • This happened on the weekend and no one responded to the alert

  • On monday it was fixed quickly however

What has changed since last update

• We applied a reservation to the resource group for our app service plans

• We are deploying some new resources to UAT environment next month so we expect a planned cost increase of $30 per day

Identify / Discuss / Solve

• We might need some help with optimizing Storage costs next month as we have a new project starting

Action Items

• We need to modify our budgets next month