Creating a Budget

Describes how to create a budget.

1. Open the navigation menu and click Billing & Cost Management. Under Cost Management, click Budgets.
2. Click Create Budget at the top of the budgets list. The Create Budget dialog is displayed.
3. From Budget Scope, select the type of target for the budget:
  
  Child Tenancy (only available when signed in to the Console as 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 in the Name text field. The name can only contain alphanumeric characters, dashes, and the underscore character, and can’t begin with a number. Avoid entering confidential information.
5. In Description, enter a description for the budget. Avoid entering confidential information.
6. Select the target for the budget:
  
  For budgets targeting a child tenancy, select the tenancy name from the Target Tenancy list.
  
  For budgets targeting a compartment:
  
  Select a target compartment for the budget from the Target Compartment list.
  Important
  
  While the budget tracks spending in the specified target compartment, you need to have permissions to manage budgets in the root compartment of the tenancy to create and use budgets.
  
  For budgets targeting a cost-tracking tag:
  
  Select a tag namespace.
  
  Select a target cost-tracking tag key.
  
  Enter a value for the cost-tracking tag.
7. Enter a monthly amount for the budget in the Monthly Budget Amount field. The minimum allowed value for the monthly budget is 1; the maximum allowed value is 999,999,999,999.
8. 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 the 29th, 30th, or 31st as the day of the month, budget processing begins on the last day of the month, for months that have fewer than the respective days you have chosen (whether 29, 30, or 31).
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:
  
  Under Threshold Metric, select a threshold for the alert. The following are the two possible values:
  
  Actual Spend watches the actual amount you spend in the compartment per month;
  
  Forecast Spend watches resource usage and alerts you when it appears that you will exceed the budget.
  
  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 a Threshold Type option. You can select either:
  
  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 Threshold Type you selected. Enter either a Threshold % or a Threshold Amount.
  
  Optionally, in the Email Recipients field, enter one or more email addresses to receive the alerts. Multiple addresses can be separated 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 to for things like providing instructions to the recipient that explain how to request a budget increase or reminding users about corporate policies.
10. Advanced Options (optional): Click the Show advanced options link to add 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 are not sure whether to apply tags, skip this option (you can apply tags later) or ask your administrator.
11. To create the budget, 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