# COST01: How do you implement cloud financial management?

## References

- [AWS COST01](https://docs.aws.amazon.com/wellarchitected/latest/framework/cost-01.html)
- [FinOps Framework](https://www.finops.org/framework/)
- [FOCUS Specification](https://focus.finops.org/)

## Date

2025-11-27

## Focus Area

Practice Cloud Financial Management

## Tổng quan

COST01 tập trung vào implementing cloud financial management practices.

## Best Practices

### COST01-BP01: Establish a cost optimization function
FinOps team/function.

### COST01-BP02: Establish a partnership between finance and technology
Collaboration.

### COST01-BP03: Establish cloud budgets and forecasts
Budgeting.

### COST01-BP04: Implement cost awareness in organizational processes
Cost awareness culture.

### COST01-BP05: Report and notify on cost optimization
Cost reporting.

### COST01-BP06: Monitor cost proactively
Cost monitoring.

### COST01-BP07: Keep up to date with new service releases
New pricing models.

## FinOps Principles

1. Teams need to collaborate
2. Everyone takes ownership
3. A centralized team drives FinOps
4. Reports should be accessible and timely
5. Decisions are driven by business value
6. Take advantage of variable cost model

## Checklist

- [ ] FinOps function established
- [ ] Cost budgets defined
- [ ] Cost reporting in place
- [ ] Cost awareness training
- [ ] Proactive monitoring
