Cloud Cost Management and FinOps Governance Checklist
This cloud cost management and FinOps governance checklist ensures alignment with FinOps Foundation FinOps Framework v2.0, AWS Well-Architected Cost Optimization Pillar, and Microsoft Azure Cost Management best practices. Designed for FinOps practitioners and cloud engineers to optimize cloud spend and maintain financial accountability.
- Industry: Telecommunications & IT
- Frequency: Monthly
- Estimated Time: 30-40 minutes
- Role: FinOps Practitioner / Cloud Financial Manager / CTO
- Total Items: 12
- Compliance: FinOps Foundation FinOps Framework v2.0, AWS Well-Architected Cost Optimization Pillar, Microsoft Azure FinOps Toolkit Best Practices, Google Cloud Architecture Framework - Cost Optimization, ITFM Cloud Financial Management Standards
Budgets and Anomaly Detection
Budget policy enforcement and spend anomaly monitoring.
- Budgets set for each account/project/team with alert thresholds?
- Cost anomaly detection active with alerts for unexpected spikes?
- Monthly cost forecast reviewed and compared to budget?
- Unit cost metrics tracked (cost per customer, cost per API call)?
Cost Optimization Actions
Rightsizing, Reserved Instances, and idle resource cleanup.
- Compute rightsizing recommendations reviewed and actioned this month?
- Reserved Instance / Savings Plan coverage above 70% for stable workloads?
- Idle/unused resources (instances, volumes, IPs, snapshots) identified and deleted?
- Spot/Preemptible instances used for fault-tolerant batch workloads?
Tagging and Cost Allocation
Resource tagging compliance and showback reporting.
- Mandatory tagging policy enforced (team, environment, project, cost-center)?
- Untagged resources below 5% of total cloud spend?
- Monthly showback/chargeback reports distributed to all teams?
- FinOps Review Notes and Savings Opportunities
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Why Use This Cloud Cost Management and FinOps Governance Checklist?
This cloud cost management and finops governance checklist helps telecommunications & it teams maintain compliance and operational excellence. Designed for finops practitioner / cloud financial manager / cto professionals, this checklist covers 12 critical inspection points across 3 sections. Recommended frequency: monthly.
Ensures compliance with FinOps Foundation FinOps Framework v2.0, AWS Well-Architected Cost Optimization Pillar, Microsoft Azure FinOps Toolkit Best Practices, Google Cloud Architecture Framework - Cost Optimization, ITFM Cloud Financial Management Standards. Regulatory-aligned for audit readiness and inspection documentation.
Frequently Asked Questions
What does the Cloud Cost Management and FinOps Governance Checklist cover?
This checklist covers 12 inspection items across 3 sections: Budgets and Anomaly Detection, Cost Optimization Actions, Tagging and Cost Allocation. It is designed for telecommunications & it operations and compliance.
How often should this checklist be completed?
This checklist should be completed monthly. Each completion takes approximately 30-40 minutes.
Who should use this Cloud Cost Management and FinOps Governance Checklist?
This checklist is designed for FinOps Practitioner / Cloud Financial Manager / CTO professionals in the telecommunications & it industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.