Your development team is experimenting with new GCP services in a sandbox project. The finance team has mandated that the project must not exceed $500 per month. You need to ensure the team is notified if costs approach this limit, but you do not want to automatically shut down resources to avoid data loss.

What should you do?

Set a project quota of $500 in the IAM & Admin console.

Create a budget in Cloud Billing for the project, set the amount to $500, and configure threshold alerts to email the billing administrators.

Create a budget in Cloud Billing and link it to a Cloud Function that disables billing when the $500 limit is reached.

Export billing data to BigQuery and write a scheduled query to check if the cost exceeds $500.