A budget can be used to set soft limits on your Oracle Cloud Infrastructure spending. You can set alerts on your budget to let you know when you might exceed your budget, and you can view all of your budgets and spending from one single place in the Oracle Cloud Infrastructure console.
How Budgets Work
Budgets are set on cost-tracking tags or on compartments (including the root compartment) to track all spending in that cost-tracking tag or for that compartment and its children.
All budgets alerts are evaluated every 15 minutes. To see the last time a budget was evaluated, open the details for a budget. You will see fields that show the current spend, the forecast and the "Spent in period" field which shows you the time period over which the budget was evaluated. When a budget alert fires, the email recipients configured in the budget alert receive an email.
The following concepts are essential to working with budgets:
- A monthly threshold you define for your Oracle Cloud Infrastructure spending. Budgets are set on cost-tracking tags or compartments and track all spending in the cost-tracking tag or compartment and any child compartments. Note: the budget tracks spending in the specified target compartment, but you need to have permissions to manage budgets in the root compartment of the tenancy to create and use budgets.
- You can define email alerts that get sent out for your budget. You can send a customized email message body with these alerts. Alerts are evaluated every 15 minutes, and can be triggered when your actual or your forecasted spending hits either a percentage of your budget or a specified set amount.
Required IAM Policy
To use Oracle Cloud Infrastructure, you must be given the required type of access in a policy written by an administrator, whether you're using the Console or the REST API with an SDK, CLI, or other tool. If you try to perform an action and get a message that you don’t have permission or are unauthorized, confirm with your administrator the type of access you've been granted and which compartment you should work in.
If you're new to policies, see Getting Started with Policies and Common Policies.
To use budgets, you must be in a group that can use "usage-budgets" in the tenancy (which is the root compartment) or be able to use all resources in the tenancy. All budgets are created in the root compartment, regardless of the compartment they are targeting, so IAM policies that grant budget permissions outside of the root will not be meaningful.
|Allow group accountants to inspect usage-budgets in tenancy
||Accountants can inspect budgets including spend.
|Allow group accountants to read usage-budgets in tenancy
||Accountants can read budgets including spend (same as list).
|Allow group accountants to use usage-budgets in tenancy
||Accountants can create and edit budgets and alerts rules.
|Allow group accountants to manage usage-budgets in tenancy
||Accountants can create, edit, and delete budgets and alerts rules.
You can apply tags to your resources to help you organize them according to your business needs. You can apply tags at the time you create a resource, or you can update the resource later with the desired tags. For general information about applying tags, see Resource Tags.
Authentication and Authorization
Each service in Oracle Cloud Infrastructure integrates with IAM for authentication and authorization, for all interfaces (the Console, SDK or CLI, and REST API).
An administrator in your organization needs to set up groups , compartments , and policies that control which users can access which services, which resources, and the type of access. For example, the policies control who can create new users, create and manage the cloud network, launch instances, create buckets, download objects, etc. For more information, see Getting Started with Policies. For specific details about writing policies for each of the different services, see Policy Reference.
If you’re a regular user (not an administrator) who needs to use the Oracle Cloud Infrastructure resources that your company owns, contact your administrator to set up a user ID for you. The administrator can confirm which compartment or compartments you should be using.
Creating Automation for Budgets Using the Events Service
You can create automation based on state changes for your Oracle Cloud Infrastructure resources by using event types, rules, and actions. For more information, see Overview of Events.