2 Exploring the FinOps Framework

 

This chapter covers

  • The core principles and key personas in the FinOps framework
  • The three phases of the FinOps lifecycle: Inform, Optimize, and Operate
  • Assessing and improving FinOps maturity using the "Crawl, Walk, Run" model
  • Key domains and capabilities in FinOps practices
  • Practical examples of FinOps in action across different organizational functions

In the previous chapter, we discussed the rise of FinOps as a way to bring financial accountability to cloud spending. This chapter takes a closer look at the FinOps Framework, which forms the foundation of effective cloud financial management. We will cover its core principles, lifecycle phases, personas, and maturity model, explaining how organizations can evaluate and grow their FinOps capabilities. But first, what is the FinOps Framework?

2.1 Core Principles of FinOps

2.1.1 Collaboration Across Teams

2.1.2 Transparency

2.1.3 Optimization

2.1.4 Accountability

2.1.5 Agility

2.2 Key Personas in FinOps

2.3 The Lifecycle Phases of FinOps

2.3.1 Inform Phase

2.3.2 Optimize Phase

2.3.3 Operate Phase

2.4 Assessing Maturity in FinOps Practices

2.4.1 Pre-Crawl Stage: Awareness and Discovery

2.4.2 Crawl Stage: Early Adoption

2.4.3 Walk Stage: Intermediate Maturity

2.4.4 Run Stage: Full Maturity

2.5 Domains & Capabilities in Depth

2.5.1 Understand Cloud Usage and Cost

2.5.2 Quantify Business Value

2.5.3 Optimize Cloud Usage and Cost

2.5.4 Manage the FinOps Practice

2.6 Summary