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Tag: Technology
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…
FinOps Europe Community Day
On March 21st, 2023, I spoke at the first FinOps Community Day Europe in Amsterdam. Topics included challenges, reporting structure, sustainability, and notable projects and tools such as the FOCUS project and the FinOps Maturity Model. Networking and knowledge sharing were also highlighted.
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.