Cost Management in Cloud Computing

Abstract

Historically, computing costs were tied to a quarterly or yearly hardware procurement investment. In a traditional on-premises world, cost management involves refresh cycles, data center acquisitions, host renewals, and recurring maintenance issues. One of the main reasons for the companies to migrate to the cloud is cost savings. However, managing cloud costs is becoming a huge challenge for organizations, one of the reasons being the huge investment made on public cloud services. Success depends more on the maturity of cloud management and governance practices than the nature of the workload. The paper attempts to understand the various aspects cloud cost management and governance.