In today’s dynamic business landscape, managing cloud expenses efficiently is paramount. With the ever-growing adoption of cloud services, organizations are increasingly relying on platforms like Oracle Cloud Infrastructure (OCI) to power their operations. However, without proper oversight, cloud costs can spiral out of control, impacting budgetary constraints and operational efficiency. To mitigate this risk, it’s essential to set up Oracle Cloud OCI budget alerts effectively
Oracle Cloud Infrastructure offers a robust budget management feature that allows users to define spending limits and receive alerts when thresholds are reached or exceeded. By leveraging OCI budget alerts, organizations can proactively monitor their cloud spending, identify cost overruns, and take timely actions to optimize resource utilization and control expenses.
For example, you can setup alert on root compartment and monitor spending on it or you can even create a budget on sub-compartment to track cost at more granular level. Let’s define a budget on parent compartment.
Define OCI Budget Alerts
Begin by logging in to the Oracle Cloud Infrastructure Console with your credentials. Navigate to Cost management, go to budgets and click create budget
Define budget with a name and proper description. Choose parent compartment. Enter budget amount e.g. 100,000 and threshold percentage as 70%. User will receive notification when budget threshold reaches 70% of 100,000.
Configure Alert Rules
Under Budget Alert Rule section, you can configure the alert rules based on the thresholds. Specify the budget thresholds, including the alert threshold and the forecast threshold. The alert threshold triggers a notification when actual spending reaches a certain percentage of the budget, while the forecast threshold predicts future spending trends. For example, you can set up an alert to notify you when 70% of the budget is consumed.
Configure Notifications
You can setup notifications to receive alerts. Specify recipients email address. Draft email message to be sent as a part of notification.
Once the budget is created, the tracking will start. When actual spend in root compartment reached 70% of defined budgeted threshold, Oracle cloud will send alert email to designated recipient to take action accordingly.
Conclusion
Setting up Oracle Cloud OCI budget alerts is a critical step in effectively managing cloud expenses and optimizing resource utilization. By following the step-by-step guide outlined above, organizations can proactively monitor their cloud budgets, control costs, and drive operational efficiency in their Oracle Cloud environment.
For more details on budget, please refer to https://docs.oracle.com/en-us/iaas/Content/Billing/Concepts/budgetsoverview.htm