Updated on 2025-05-22 GMT+08:00

COST02-02 Refining Budget Management and Tracking

  • Risk level

    High

  • Key strategies

    A budget management mechanism should be established to manage the cloud costs of each project, service, or application throughout their lifecycle.

    Projects and services of an enterprise change over time. Generally, emerging projects and services require more cloud resources, while stable projects and services can focus more on continuously optimizing the cloud costs per unit of revenue. Projects and services at the end of their lifecycle should consider gradually releasing resources that are no longer needed.

    When formulating budgets, enterprises should track project lifecycles, regularly review budget usage, and dynamically adjust budgets based on service conditions to better control costs while ensuring that the budgets meet the actual needs.

    It is critical to establish response plans for cost overruns. These plans should include clear processes and owners, and identify the owners or teams who will receive alerts and take actions. These individuals or teams may be the finance team, operations team, department heads, or specific cost management teams. In this way, when an alert is triggered, necessary measures can be quickly taken, such as optimizing resources, stopping unnecessary services, or restricting the purchase of cloud resources for a department or project.

  • Related services and tools

    Huawei Cloud provides budget management for you to track your costs by product, team, or project in a refined manner.

    In addition to viewing the budget progress in Cost Center, you can also configure budget alerts. If the actual or predicted usage reaches the specified threshold, you will receive an alert via SMS or email so that you can take measures in a timely manner.

    You can create a daily, weekly, or monthly budget report to inform relevant personnel so that the costs are always visible to the relevant business departments, finance departments, and CTO of your enterprise.