Intro

Question 1

What is FinOps?

Answer 1

FinOps is an operational framework and cultural practice which maximizes the business value of cloud, enables timely data-driven decision making, and creates financial accountability through collaboration between engineering, finance, and business teams

Question 2

At it’s core, Finops is: (2 things)

Answer 2

a cultural practice
operational framework

Question 3

What are the six finops principals?

Answer 3

Teams need to collaborate

Decisions are driven by business value of cloud

Everyone takes ownership for their cloud usage

FinOps data should be accessible and timely

A centralized team drives FinOps

Take advantage of the variable cost model of the cloud

Question 4

Can you implement a subset of the finops principals?

Answer 4

No, the should all be used together.

Question 5

An allocation strategy of actual consumption spend of IT services from finance systems back to user teams via an internal report or “invoice”

Answer 5

Chargeback

Question 6

This priority replaced empowering engineers (which was now second) as the new top priority for respondents of the State of FinOps survey in 2024

Answer 6

Reducing waste

Question 7

For lower spenders, this item is the number two priority in the 2024 State of FinOps survey

Answer 7

Accurate forecasting of spend…suggested higher spenders already have forecasting under control

Question 8

This persona reports the most benefit from FinOps in the 2024 State of FinOps survey

Answer 8

Engineering and operations