Cost management strategies help you organize and improve corporate responsibility. With budgets, you can pay for Azure resources that you use or commit to over a fixed period of time. They help you educate others of their expenses in order to control costs efficiently and effectively to track how expenditure evolves over time. If the target limits you have established are surpassed, only alerts are activated. None of the resources are compromised and the use is not halted. You will use budgets to evaluate and monitor spending while you examine costs.
What is Azure Budget?
It's Cost reduction strategies enable to prepare to foster the transparency of the company. With Budget you educate others of their expenses to handle expenditures proactively and to track the success of spending over time. Also alerts are activated when the budget limits you have generated are surpassed.
Why we need it?
- Billing helps organizations plan with cost in mind.
- This also helps to efficiently assess costs and take steps to reduce cloud spending.
How to create it?
- Sign in to the Azure portal at https://portal.azure.com.
- Type "Budget" in the Search box;
3. Choose your Billing Scope which Azure Subscription that you want to create budget;
4. Under Cost Management Blade, yo can find "Create Budget" button
5. You click "Add" button to a new Budget
6. Fill up all the details for your Budget;
a. Budget Scope(Azure Subscription)
b. Budget Name
c. Reset Period - you can choose between ( Monthly, Quarterly, & Yearly )
d. Creation Date
e. Expiration Date
f. Budget Amount Threshold -> this most import to set your Alert
6.1 You want to add your filter more specific scope, you may do so by add your filter under Scope option. We have 21 options that we can choose, I think mostly people will use Tag as their filter if you have multiple team using same Azure Subscription, easier to track your budget;
6.2 Finally we will have all information in place, you will get like below once you done fill up all the require input/parameter;
7. Lastly we need to set an Alert to send an alarm notification when the Threshold we set early step is triggered.
a. Set your Alert condition such we need to trigger Alert when our budget reach 80% of our Budget limit.
b. You can set a alert to send an email to specific email address
8. Once we clicked "Create" button, we will have a new Azure Budget created.
That's it , you now have Azure Budget created in your Azure Subscription and you can optimize you budget wisely.
