Creating a Budget

Create a budget to set soft limits on infrastructure spending in Billing and Cost Management.

For more information about budgets, see Budgets Overview.

1. Open the navigation menu and click Billing & Cost Management. Under Cost Management, click Budgets.
2. On the Budgets page, click Create Budget.
3. For Budget Scope, select the type of target for the budget:
  
  Child Tenancy: Available only when you're signed in to a parent tenancy in an organization.
  
  Compartment: Available for both parent and child tenancies.
  
  Cost-Tracking Tag: Available for both parent and child tenancies.
4. Enter a name for the budget. The name can contain only alphanumeric characters, dashes, and the underscore character, and can't begin with a number. Avoid entering confidential information.
5. Enter a description for the budget. Avoid entering confidential information.
6. Select the target for the budget:
  
  For budgets that target a child tenancy, select the tenancy name from the Target Tenancy list.
  
  For budgets targeting a compartment, select the compartment from the Target Compartment list.
  Important
  
  Although the budget tracks spending in the specified target compartment, you must have permissions to manage budgets in the root compartment of the tenancy to create and use the budgets.
  
  You also can't create a budget in a compartment that already has a budget. You can create multiple alert rules within an existing budget. For more information about creating budget alert rules, see Creating a Budget Alert Rule.
  
  For budgets that target a cost-tracking tag:
  Important
  
  Only a single budget is allowed per cost-tracking tag.
  
  Select a tag namespace.
  
  Select a target cost-tracking tag key.
  
  Enter a value for the cost-tracking tag.
7. Under Schedule, select either Monthly for a recurring budget, or Custom (non-recurring) for a budget that's used only a single time.
  (Monthly) In the Budget Amount field, enter a monthly amount for the budget.
  (Custom) In the Budget Amount field, enter an amount for the budget.
  The minimum allowed value for the budget is 1. The maximum allowed value is 999,999,999,999 in the chosen currency.
  The Budgets page lists both Monthly and Custom (non-recurring) budget types, while the Status field indicates whether a budget is Active, Scheduled, or Expired.
8. (Monthly) From Day of the month to begin budget processing, select the day of the month that you want budget processing to periodically begin on each month.
  
  Setting this value allows you to create a budget that aligns with your billing cycle date, and to receive more meaningful budget alerts. Below this field, Current Budget Processing Period Based on Selection reflects the budget processing period, according to the day of the month you chose. When viewing or editing a budget on its details page, the Budget Processing Period field also displays this information.
  
  Note
  
  If you select 29, 30, or 31 as the day of the month, budget processing begins on the last day of the month for months that have fewer days than the date you selected.
  
  (Custom) Select the start date and end date (in UTC) for the non-recurring budget, up to a maximum of one year.
  Note
  
  The start and end date can only be edited before the budget is active, and can't be changed when editing a budget.
9. You can optionally create an alert for the budget by creating a budget alert rule. In Budget Alert Rule (optional), configure the alert rule:
  
  For Threshold Metric, select a threshold for the alert:
  
  Actual Spend watches the actual amount you spent in the compartment per month.
  
  Forecast Spend watches resource usage and alerts you when it appears that the budget will be exceeded.
  
  The forecast algorithm is of linear extrapolation and the formula is as follows:
  
  (Actual Spend / Days processed from the start of the budget period) * Days of the budget period
  
  The forecast algorithm requires at least three days of consumption to trigger, and the forecast spend is evaluated hourly.
  
  Select an option for Threshold Type:
  
  Percentage of Budget: A percentage of the monthly budget, which must be greater than 0 but no greater than 10,000.
  
  Absolute Amount: A fixed amount.
  
  The label of the next text field changes depending on which option you select.
  
  Enter a value for either Threshold % or Threshold Amount.
  
  Optionally, in the Email Recipients field, enter one or more email addresses to receive the alerts. Separate multiple addresses by using a comma, semicolon, space, tab, or new line.
  
  Optionally, enter the body of the email alert in the Email Message field. The text of the email message can't exceed 1,000 characters. This message is included with metadata about the budget, including the budget name, the compartment, and the amount of the monthly budget. You can use this message, however, to provide instructions to the recipient that explains how to request a budget increase, or to remind users about corporate policies.
10. Click the Show advanced options link to assign tags to the budget.
  If you have permissions to create a resource, then you also have permissions to apply free-form tags to that resource. To apply a defined tag, you must have permissions to use the tag namespace. For more information about tagging, see Resource Tags. If you're not sure whether to apply tags, skip this option or ask an administrator. You can apply tags later.
11. Click Create.
Use the oci budgets budget create command and required parameters to create a budget:
oci budgets budget create --compartment-id compartment_ocid --amount amount --reset-period reset_period [OPTIONS]
For a complete list of parameters and variable options for CLI commands, see the Command Line Reference.
Run the CreateBudget operation to create a budget.

Oracle Cloud Infrastructure Documentation

Creating a Budget