3.1.6 Describe the Microsoft Cost Management Tool

Description of the Microsoft cost management tool.

What is Cost Management?

Allows quick checking of Azure resource costs, alerts to be created based on spend and budgets to be built for automation of resources. Cost analysis is a subset of cost management which provides a quick visual for Azure costs. Cost analysis allows you to view the total cost by billing cycle, region, resource and so on.

Cost Alerts

Three types of alerets:

• Budget alerts

• Credit alerts

• Department spending quota alerts

Budget Alerts

Notify you when spending reaches or exceeds the amount defined in the alert condition. Budgets are defined by cost. Budget alerts support both cost-based and usage-based budgets.

Credit Alerts

Notify you when Azure credit monetary commitments are consumed. These are for organisations with Enterprise Agreements (EAs). Generated automatically at 90% and 100% of your credit balance.

Department Spending Quota Alerts

Notify you when department sending reaches a threshold of the quota.

Budgets

A spending limit set for Azure. Can be set based on subscription, resource group, service type or other criteria. When the budget hits the alert level, it triggers an alert that shows in the cost alerts area. Advanced use allows budget conditions to trigger automations that suspend or modify resources.