E43: What is the FinOps Framework and How Can it be Applied to My Organization?
FRAME IT, WORK IT Every system, process, or operation is built on a framework, and the same goes for FinOps. Nick and Jason continue with their FinOps series and today, they discuss the FinOps Framework and how it can be applied to your organization. Our duo gets down with the details starting from the core elements of the FinOps Framework, to understanding cloud usage and cost, and many more. Find out more about the FinOps Framework in this latest episode of Cloud Cost Optimization. WORDS TO OPTIMIZE YOUR DAY JASON: THE CORE ELEMENTS OF THE FINOPS FRAMEWORK “They call them core elements. We've talked about some of them in some of our episodes, but Principles, Personas, Phases, Maturity, Domains, and Capabilities are the core elements of the FinOps framework.” JASON: ADVICE FOR THOSE STILL STARTING WITH THEIR FRAMEWORK “The first phase is to start with Inform. Inform gives you visibility and allows you to allocate your environment properly, budget, and forecast out into the future. So that's where I would start, with the informed phase, set realistic, SMART goals for the organization and what they want to achieve from either allocating, whatever is important, allocation, anomalies, forecasting, whatever is important to the organization, set those and then start to live up.” Get to know our hosts in the links below: Nick Lumsden: https://www.linkedin.com/in/nicklumsden/ Jason Yaeger: https://www.linkedin.com/in/jasonyaeger/ Get a free assessment and optimize your environment in TenacityCloud.com