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Tag: gcp
FOCUS can help Engineers take action
In a recent blog post, we delved into how Reserved Instances can impact engineering accountability. We emphasized the necessity for ownership of cloud costs and proposed solutions. Introducing FOCUS, a standard for harmonizing cloud billing data, with stable pricing and cost columns to enhance transparency and alignment for FinOps teams.
How to estimate Earned Value accurately?
Accurate estimation of Earned Value (EV) is essential for effective Earned Value Management (EVM). Let’s break down the steps to estimate EV accurately
EVM CPI: The Ultimate Cloud Business Value Metric for FinOps Leaders
CTOs, CFOs, and Directors need efficient data for decisions. EVM CPI, derived from Earned Value Management, is vital for cloud FinOps, indicating cost efficiency, resource allocation, and business value alignment. Challenges include data accuracy and contextual interpretation. EVM CPI empowers informed cloud decisions.
Applying EVM to FinOps
Earned Value Management (EVM), widely used in project management, can be applied to FinOps Cloud Cost Management to enhance financial visibility and align cloud spending with business objectives. EVM’s key components, such as Planned Value (PV), Earned Value (EV), and Actual Cost (AC), can be adapted to FinOps to track, control, and forecast cloud costs…
EVM: How to calculate in a FinOps context
Earned Value Management (EVM) is applied to Cloud FinOps within the ‘Quantify Business Value’ domain. It uses Cost Performance Indicator (CPI) to assess if cloud spend delivers expected value. EVM condenses cost situation and business results into indicators, requiring early maturity in capabilities.
FinOps Success Case – FARFETCH
Farfetch’s IT arm, FTECH, achieved noteworthy cost optimization in 2023, spending €3.4M less than in 2022. Their FinOps approach, including cultural practices and cost-saving initiatives, resulted in significant successes. Looking ahead to 2024, they plan to build on these achievements.