Adopting and Maturing FinOps

Question 1

Name the three ways FinOps Adoption usually starts

Answer 1

Leadership Mandate
Grassroots adoption
Individual initiative

Question 2

Name the four stages of adopting FinOps

Answer 2

Research
Propose
Prepare
Launch

Question 3

This stage of adopting FinOps includes understanding your current cloud procurements, knowing your current hierarchy and tagging strategy, computing FinOps KPIs, investigating tooling needs, and estimating funding.

Answer 3

Research

Question 4

These two key persona groups are important to the Research phase of Adopting Finops

Answer 4

Finance
Engineering

Question 5

The proposal phase of the FinOps Adopting model is typically one meeting with all stakeholders

Answer 5

False. Can vary widely by org…multiple meetings multiple presentations…small pilot rollout…big bang implementation.

Question 6

You should include these three things in your proposal for adopting finops

Answer 6

Current State
Roadmap of Activities
Future State

Question 7

These three items are part of the Prepare (to execute against approved proposal) adopting finops

Answer 7

Define FinOps Team & Team Roles
Develop Processes for Executing (FinOps official) Capabilities
Collaborate and Align Goals

Question 8

True or false: you should try to prioritize all twelve FinOps capabilities during the Prepare stage of adopting Finops

Answer 8

False. Prioritize a handful.

Question 9

What are some of the usual FinOps Capabilities prioritized during the Prepare stage of FinOps Adoption

Answer 9

Data Ingestion
Allocation
Reporting
Forecasting & Budgeting
Workload Optimization
Rate Optimization
Education Enablement
FinOps Tools & Services

Question 10

What persona groups are important to success during the Prepare stage of the Adopting FinOps plan

Answer 10

All could be involved based on what capabilities are prioritized, but like the research phase, finance and engineering are very important.

Question 11

What persona groups are important to success during the Launch stage of the Adopting FinOps plan

Answer 11

All core personas

Question 12

This can be useful clarifying roles and responsibilities during the Launch phase

Answer 12

RACI

Question 13

AFter launch, FinOps success comes from these three things

Answer 13

Adhering to FinOps principles
Following FinOps phases
Improving capability maturity levels

Question 14

True or False: Once FinOps is in place, you are done.

Answer 14

The FinOps adoption journey is one you may travel many times over as FinOps spreads across the organization, as acquisitions occur, etc.

FinOps is a continuous and iterative process. Embrace the challenges and opportunities ahead. We wish you success in your journey.

Question 15

Adoption Pitfall: Optimization vs Cost Management

Answer 15

Optimization is participating in the planning process (not resources as they are used in dev)
Cost Management is helping find ways to reduce was spend appropriately for deployed stuff.

Question 16

What are the five models of adoption for FinOps

Answer 16

Bottom Up
Top Down
Specific Mandate
Cloud Native - Some organizations are born in the cloud. Startups and new app companies might never build or own a data center. While these companies will naturally understand how to use the cloud, they may be focusing on technical capabilities more than overall efficiency.
SaaS

Question 17

Read about the evolutionary change to FinOps Team

Answer 17

At first, the team builds a visibility capability, then brings on someone to operationalize it. Learning and communications are next, the mechanisms are established and then someone steps in to carry it forward.

Optimization activities that are important then get built and someone comes on to continue those activities. Over time, some of the earlier functions may become routine, established within the broader organization, or carried out by other teams. In the best cases, these earlier functions become automated away or made obsolete by the good behavior of the organization. As new functions for the FinOps team are established, the team grows and changes to accommodate the new work.

Question 18

KPIs that FinOps team is asked to deliver will always be the same.

Answer 18

False. Relatively large inefficiencies that once lived will be gone. Smaller, more incremental finds will follow. Revisit KPIS to make sure alignment with what the org need.

Question 19

You should have this ready for short conversations with stakeholders

Answer 19

Elevator Pitch