What is the practice of bringing financial accountability to the variable spend model of cloud resources?

FinOps, a portmanteau of Finance and DevOps, is a cultural practice and cloud financial management discipline. Its primary goal is to bring financial accountability to the variable spending model of the cloud, enabling organizations to maximize business value. It achieves this by fostering collaboration among engineering, finance, and business teams to make data-driven decisions about cloud spending. This practice helps teams take ownership of their cloud usage and costs, aligning cloud expenditure with business objectives.

A. FaaS (Function as a Service) is a serverless cloud computing model, not a financial management practice.
B. DevOps is a methodology for software development and IT operations, focusing on speed and reliability, not primarily financial governance.
C. CloudCost is a generic term or a specific vendor's product name, not the established industry term for this practice.

1. The FinOps Foundation (A Linux Foundation Project). (n.d.). What is FinOps?. Retrieved from https://www.finops.org/introduction/what-is-finops/. (The entire page defines the concept).

2. CNCF (Cloud Native Computing Foundation). (2021, May 5). FinOps for Kubernetes: A practical guide to optimizing your cloud costs. CNCF Blog. Retrieved from https://www.cncf.io/blog/2021/05/05/finops-for-kubernetes-a-practical-guide-to-optimizing-your-cloud-costs/. (Paragraphs 1-3).