  Cloud computing providers are now offering their unused resources for leasing
in the spot market, which has been considered the first step towards a
full-fledged market economy for computational resources. Spot instances are
virtual machines (VMs) available at lower prices than their standard on-demand
counterparts. These VMs will run for as long as the current price is lower than
the maximum bid price users are willing to pay per hour. Spot instances have
been increasingly used for executing compute-intensive applications. In spite
of an apparent economical advantage, due to an intermittent nature of biddable
resources, application execution times may be prolonged or they may not finish
at all. This paper proposes a resource allocation strategy that addresses the
problem of running compute-intensive jobs on a pool of intermittent virtual
machines, while also aiming to run applications in a fast and economical way.
To mitigate potential unavailability periods, a multifaceted fault-aware
resource provisioning policy is proposed. Our solution employs price and
runtime estimation mechanisms, as well as three fault tolerance techniques,
namely checkpointing, task duplication and migration. We evaluate our
strategies using trace-driven simulations, which take as input real price
variation traces, as well as an application trace from the Parallel Workload
Archive. Our results demonstrate the effectiveness of executing applications on
spot instances, respecting QoS constraints, despite occasional failures.
