FSICOST15: Have you reviewed your ongoing cost structure tradeoffs for your current AWS services lately?

You can optimize cost over time by reviewing new services and implementing them in your workload. As AWS releases new services and features, it is a best practice to review your existing architectural decisions to ensure that they remain cost effective.

FSICOST15-BP01 Monitor and optimize your ongoing costs, ROIs, and tradeoffs against alternative AWS services on a periodic basis to maintain your lowest cost of ownership

Financial services institutions add new human resources periodically, like contractors, vendors, or FTEs, so it is necessary to maintain a cost-aware culture. There are also enhancements from AWS on cost-related services. You should conduct periodic workshops, sessions on effective ways to measure, monitor and optimize cost to spread awareness of cost optimization to existing resources, as well as new resources on the team. The frequency of such workshops should be at least once every six months. Every six months, or during the session, you should recognize cost optimization wins and recognize individual people driving or contributing to the cost optimization. This drives cost-optimization culture in a team.