COST07-BP05 Perform pricing model analysis at the master account level
Use Cost Explorer Savings Plans and Reserved Instance recommendations to perform regular analysis at the management account level for commitment discounts.
Level of risk exposed if this best practice is not established: Low
Implementation guidance
Performing regular cost modeling ensures that opportunities to optimize across multiple workloads can be implemented. For example, if multiple workloads use On-Demand Instances, at an aggregate level, the risk of change is lower, and implementing a commitment-based discount will achieve a lower overall cost. It is recommended to perform analysis in regular cycles of two weeks to one month. This allows you to make small adjustment purchases, so the coverage of your pricing models continues to evolve with your changing workloads and their components.
Use the AWS Cost Explorer
To find opportunities for Spot workloads, use an hourly view of your overall usage, and look for regular periods of changing usage or elasticity.
Implementation steps
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Perform a commitment discount analysis: Using Cost Explorer in your account review the Savings Plans and Reserved Instance recommendations. To verify you implement the correct recommendations with the required discounts and risk, follow the Well-Architected labs.
Resources
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