Integrating FinOps Into Your Project Management Processes – Boyle and Bayan
Abstract:
The shift from on-prem to cloud-based solutions came with significant benefits (performance, uptime, stability, etc.). However, organizations are now battling with how to understand – and control – cloud-related costs. As cloud costs become a greater percentage of the overall project budgets, project managers have necessarily started analyzing the related attributes. Cloud costs are complex and confusing – a monthly cloud bill for a moderate-sized software project has thousands, and sometimes hundreds of thousands, of rows on the invoice. Typical projects don’t have staff who are trained to understand and manage cloud costs: financial analysts don’t have the technical understanding, and cloud engineers don’t have the financial understanding. Project managers are asking themselves: A) how do my cloud-related costs compare to other similar projects, B) how can I better understand my current cloud costs, C) what mechanisms exist to better monitor and manage cloud costs, and D) who on a typical project is best positioned to balance business-value and cloud costs. Financial Operations (FinOps) was created specifically to address the new paradigm of cloud computing-related costs throughout the entire project life-cycle.
PMI Talent Triangle: Business Acumen
PDUs: 0.75
