Per the FinOps Foundation:
The FinOps Foundation is a project of the Linux Foundation, a non-profit that provides a neutral, trusted hub for developers and organizations to code, manage, and scale open technology projects and ecosystems.
FinOps is an operational framework and cultural practice which maximizes the business value of cloud, enables timely data-driven decision making, and creates financial accountability through collaboration between engineering, finance, and business teams. The FinOps Foundation provides best practices, community, and resources for cloud financial management.
FinOps Principles act as a north star, guiding the activities of the FinOps Foundation's FinOps practice. These principles are in no particular order, and they should be taken as a whole. We encourage members to understand and practice all of these principles:
- Teams need to collaborate
- Decisions are driven by business value of cloud
- Everyone takes ownership for their cloud usage
- FinOps data should be accessible and timely
- A centralized team drives FinOps
- Take advantage of the variable cost model of the cloud
For more information, please visit FinOps Foundation