Title

AWS re:Invent 2023 - Optimize costs in your multi-account environments (COP333)

Summary

Understanding and Planning: Establish a structured multi-account environment using AWS Organizations and Control Tower. Align technology tools with business objectives and consider AWS managed services for cost-effective solutions.
Visualizing and Measuring Costs: Implement cost visibility using tools like Cost Explorer, Cost and Usage Report, and custom dashboards. Utilize AWS services like S3 Storage Lens and Compute Optimizer for insights across accounts. Define cost categories for better allocation and visibility.
Implementing and Iterating: Apply Service Control Policies (SCPs) for cost control, enforce tagging strategies, and use AWS Config for resource consistency. Promote self-service well-architected patterns for resource creation using infrastructure as code templates and AWS Service Catalog.
Cost Controls: Use SCPs to limit actions, require tags on resource creation, and quarantine accounts that exceed budget limits. Implement budget alerts and automate account management based on cost thresholds.
Resource Optimization: Share a centralized library of cost-optimized infrastructure as code templates and govern their use through AWS Service Catalog for version control and access management.

Cost Optimization is Continuous: As businesses grow and scale, cost management and evaluation of controls should be an ongoing process.
Visibility is Key: Better visibility into costs and resource utilization is crucial for identifying savings opportunities and making informed decisions.
Automation and Governance: Automating cost controls and governance, such as budget alerts and SCPs, can prevent cost overruns and ensure compliance with cost optimization strategies.
Collaboration and Education: Engaging with development teams and educating them on cost optimization practices is essential for successful implementation.
Leverage AWS Services: AWS provides a suite of services designed to help with cost optimization, including AWS Organizations, Control Tower, Compute Optimizer, Cost Optimization Hub, and AWS Config.
Infrastructure as Code: Encouraging the use of pre-approved infrastructure as code templates can streamline development processes and ensure cost efficiency from the start.
Customization and Flexibility: While AWS provides tools and services for cost optimization, organizations should customize these solutions to fit their specific business needs and objectives.