Mastering FinOps L1 KR: Unveiling Our Secret Strategy

I owed the L1 KR at Atlassian recently related to Cost Efficiency, and with amazing efforts from the FinOps team we nailed a 1.0+ score. Here is a secret sauce to exceed expectations of L1 KR:

SMART Goals

Specific and Scientific: Our goals were data-driven and highly focused.

Measurable: Even when the metrics weren't perfect, we ensured our progress could be tracked.

Ambitious and Achievable: We aimed for the stars, setting goals that challenged us to exceed expectations.

Realistic: While our goals were ambitious, they remained within the realm of possibility.

Time-Bound: Each goal had a clear deadline.

At FinOps, we deeply analyzed data and considered a wide array of inputs to set our goals. We often set seemingly impossible targets, pushing ourselves to strive for what others might have deemed unattainable.

Define the ROI

FinOps initiatives, like all significant endeavors, require investment. We set a high standard for funding, expecting a minimum return of 5-7x within a year. If the team had a big idea but struggled to gain momentum, they reached out to the central team for assistance and all programs delivered higher-than-expected ROI.

Find the Opportunities

By continuously scanning the landscape, analyzing data, and reassessing our assumptions, we were able to reallocate resources to maximize returns. This approach aligned with the core FinOps philosophy on cloud usage: our focus wasn't just on saving money but on ensuring that it was spent on the right things.

Execution

Cross-Functional Collaboration: The FinOps team collaborated directly with other teams to execute high-ROI projects quickly. These joint efforts produced significant results, bypassing potential delays in the standard delivery pipeline and strengthening partnerships with engineering teams. Additionally, engineering teams received expert advice and help.

Keep Pushing: The TPM launched daily standups to accelerate delivery and produce fast results. The goal was to remove any blockers and hold the team accountable.

Dashboards, Dashboards, and More Dashboards

A comprehensive dashboard was essential for tracking the progress of L1 and L2 KRs. By incorporating trends and projections, this tool provided a clear view of overall health and progress. The dashboard highlighted key metrics and offered a monthly view with historically validated savings.

Engage Your Stakeholders

Foster Open Communication: We kept our stakeholders updated on the progress, obstacles, and achievements of our KR. Clear and transparent communication built trust and secured ongoing support.

Celebrate Wins and Crowdsource as Much as You Can!

The success of our KR largely depended on our ability to crowdsource. By harnessing the passion, knowledge, and skills of the organization, we achieved extraordinary outcomes. We amplified the wins across the company to give visibility to the team and share learnings on a broader scale.