Microsoft Cost Management Tool
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In this lesson, you'll learn about the Microsoft Cost Management tool, a service that helps you monitor and manage your Azure expenses.
Microsoft Azure is a global cloud provider, allowing you to provision resources anywhere in the world. You can rapidly provision resources to meet sudden demand, test a new feature, or even by accident. Accidental provisioning of new resources can go unnoticed until you receive your invoice. Cost Management helps you avoid these situations by providing tools to monitor and manage your Azure expenses.
What is Cost Management?
Cost Management provides the ability to quickly check Azure resource costs, create alerts based on resource spending, and set budgets to automate resource management.
Cost Analysis is a subset of Cost Management that offers a quick visual overview of your Azure costs. It allows you to view total costs in various ways, including by billing cycle, region, and resource.
Using cost analysis, you can explore and analyze organizational costs, view aggregated costs by organization, identify spending trends, and estimate cost trends over time to align with your budget.
Cost Alerts
Cost alerts offer a centralized location to monitor different alert types within the Cost Management service. The three types of alerts are:
Budget Alerts
Budget alerts notify you when spending, based on usage or cost, reaches or exceeds the defined alert condition. Budgets are created using the Azure portal or the Azure Consumption API. Alerts are generated automatically whenever the budget conditions are met. These alerts appear in the cost alerts section of the Azure portal and trigger an email notification to specified recipients.
Credit Alerts
Credit alerts notify you when your Azure credit monetary commitments are consumed, applicable for organizations with Enterprise Agreements (EAs). These alerts are generated automatically at 90% and 100% of your Azure credit balance. Notifications are sent via email to account owners and appear in the cost alerts section.
Department Spending Quota Alerts
Department spending quota alerts notify you when department spending reaches a set threshold of the quota. Configured in the EA portal, these alerts trigger emails to department owners and appear in cost alerts, notifying you at specified thresholds such as 50% or 75% of the quota.
Budgets
A budget allows you to set a spending limit for Azure based on criteria such as a subscription, resource group, or service type. When setting a budget, you will also configure a budget alert. When spending hits the alert threshold, it triggers a notification in the cost alerts section and sends an email if configured.
Advanced budget usage can trigger automation to suspend or modify resources once the budget condition is met, helping to manage costs proactively.
Using Microsoft Cost Management, you can efficiently monitor, manage, and control your Azure spending, ensuring that you stay within your budget and avoid unexpected expenses.
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