diff --git a/x-pack/plugins/observability/server/assets/constants.ts b/x-pack/plugins/observability/server/assets/constants.ts
index 78ec6611ef633..76543a27b6266 100644
--- a/x-pack/plugins/observability/server/assets/constants.ts
+++ b/x-pack/plugins/observability/server/assets/constants.ts
@@ -11,6 +11,7 @@ export const SLO_INDEX_TEMPLATE_NAME = '.slo-observability.sli';
 export const SLO_RESOURCES_VERSION = 1;
 export const SLO_INGEST_PIPELINE_NAME = `${SLO_INDEX_TEMPLATE_NAME}.monthly`;
 export const SLO_DESTINATION_INDEX_NAME = `${SLO_INDEX_TEMPLATE_NAME}-v${SLO_RESOURCES_VERSION}`;
+export const SLO_DESTINATION_INDEX_PATTERN = `${SLO_DESTINATION_INDEX_NAME}*`;
 
 export const getSLOTransformId = (sloId: string, sloRevision: number) =>
   `slo-${sloId}-${sloRevision}`;
diff --git a/x-pack/plugins/observability/server/domain/services/compute_error_budget.test.ts b/x-pack/plugins/observability/server/domain/services/compute_error_budget.test.ts
deleted file mode 100644
index 846f11dbe236f..0000000000000
--- a/x-pack/plugins/observability/server/domain/services/compute_error_budget.test.ts
+++ /dev/null
@@ -1,197 +0,0 @@
-/*
- * Copyright Elasticsearch B.V. and/or licensed to Elasticsearch B.V. under one
- * or more contributor license agreements. Licensed under the Elastic License
- * 2.0; you may not use this file except in compliance with the Elastic License
- * 2.0.
- */
-
-import { oneMinute } from '../../services/slo/fixtures/duration';
-import { createSLO } from '../../services/slo/fixtures/slo';
-import { sevenDaysRolling, weeklyCalendarAligned } from '../../services/slo/fixtures/time_window';
-import { computeErrorBudget } from './compute_error_budget';
-import { toDateRange } from './date_range';
-
-describe('computeErrorBudget', () => {
-  describe('for rolling time window', () => {
-    describe('for occurrences budgeting method', () => {
-      it('computes the error budget', () => {
-        const slo = createSLO({
-          budgetingMethod: 'occurrences',
-          timeWindow: sevenDaysRolling(),
-          objective: { target: 0.95 },
-        });
-        const dateRange = toDateRange(slo.timeWindow);
-        const errorBudget = computeErrorBudget(slo, {
-          good: 97,
-          total: 100,
-          dateRange,
-        });
-
-        expect(errorBudget).toEqual({
-          initial: 0.05,
-          consumed: 0.6,
-          remaining: 0.4,
-          isEstimated: false,
-        });
-      });
-    });
-
-    describe('for timeslices budgeting method', () => {
-      it('computes the error budget', () => {
-        const slo = createSLO({
-          budgetingMethod: 'timeslices',
-          timeWindow: sevenDaysRolling(),
-          objective: { target: 0.95, timesliceTarget: 0.95, timesliceWindow: oneMinute() },
-        });
-        const dateRange = toDateRange(slo.timeWindow);
-        // 7 days sliced in 1m buckets = 10,080 slices
-        const errorBudget = computeErrorBudget(slo, {
-          good: 9987,
-          total: 10080,
-          dateRange,
-        });
-
-        expect(errorBudget).toEqual({
-          initial: 0.05,
-          consumed: 0.184524,
-          remaining: 0.815476,
-          isEstimated: false,
-        });
-      });
-    });
-  });
-
-  describe('for calendar aligned time window', () => {
-    describe('for occurrences budgeting method', () => {
-      beforeEach(() => {
-        jest.useFakeTimers({ now: new Date('2023-05-09') });
-      });
-
-      it('computes the error budget with an estimation of total events', () => {
-        const slo = createSLO({
-          budgetingMethod: 'occurrences',
-          timeWindow: weeklyCalendarAligned(),
-          objective: { target: 0.95 },
-        });
-        const dateRange = toDateRange(slo.timeWindow);
-        const errorBudget = computeErrorBudget(slo, {
-          good: 97,
-          total: 100,
-          dateRange,
-        });
-
-        expect(errorBudget).toEqual({
-          initial: 0.05,
-          consumed: 0.171429,
-          remaining: 0.828571,
-          isEstimated: true,
-        });
-      });
-    });
-
-    describe('for timeslices budgeting method', () => {
-      it('computes the error budget', () => {
-        const slo = createSLO({
-          budgetingMethod: 'timeslices',
-          timeWindow: weeklyCalendarAligned(),
-          objective: { target: 0.95, timesliceTarget: 0.95, timesliceWindow: oneMinute() },
-        });
-        const dateRange = toDateRange(slo.timeWindow);
-        // 2 days sliced in 1m buckets = 2,880 slices (slices we have data for) = total
-        // 7 days sliced in 1m buckets = 10,080 slices (all slices for the window) = window_total
-        const errorBudget = computeErrorBudget(slo, {
-          good: 2823,
-          total: 2880,
-          dateRange,
-        });
-
-        // error rate = (total - good) / window_total = (2880 - 2823) / 10080 = 0.00565476
-        // consumed = error rate / error budget = 0.00565476 / 0.05 = 0.1130952
-        expect(errorBudget).toEqual({
-          initial: 0.05,
-          consumed: 0.113106,
-          remaining: 0.886894,
-          isEstimated: false,
-        });
-      });
-    });
-  });
-
-  it("returns default values when total events is '0'", () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 100, total: 0, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001, // 0.1%
-      consumed: 0, // 0% consumed
-      remaining: 1, // 100% remaining
-      isEstimated: false,
-    });
-  });
-
-  it("returns default values when 'good >= total' events", () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 9999, total: 9, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001,
-      consumed: 0,
-      remaining: 1,
-      isEstimated: false,
-    });
-  });
-
-  it('computes the error budget with all good events', () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 100, total: 100, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001,
-      consumed: 0,
-      remaining: 1,
-      isEstimated: false,
-    });
-  });
-
-  it('computes the error budget when exactly consumed', () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 999, total: 1000, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001,
-      consumed: 1,
-      remaining: 0,
-      isEstimated: false,
-    });
-  });
-
-  it('computes the error budget with rounded values', () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 770, total: 777, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001,
-      consumed: 9.009009, // i.e. 900.90% consumed
-      remaining: -8.009009, // i.e. -800.90% remaining
-      isEstimated: false,
-    });
-  });
-
-  it('computes the error budget with no good events', () => {
-    const slo = createSLO();
-    const dateRange = toDateRange(slo.timeWindow);
-    const errorBudget = computeErrorBudget(slo, { good: 0, total: 100, dateRange });
-
-    expect(errorBudget).toEqual({
-      initial: 0.001,
-      consumed: 1000, // i.e. 100,000% consumed
-      remaining: -999,
-      isEstimated: false,
-    });
-  });
-});
diff --git a/x-pack/plugins/observability/server/domain/services/compute_error_budget.ts b/x-pack/plugins/observability/server/domain/services/compute_error_budget.ts
deleted file mode 100644
index 3302ac35678ee..0000000000000
--- a/x-pack/plugins/observability/server/domain/services/compute_error_budget.ts
+++ /dev/null
@@ -1,101 +0,0 @@
-/*
- * Copyright Elasticsearch B.V. and/or licensed to Elasticsearch B.V. under one
- * or more contributor license agreements. Licensed under the Elastic License
- * 2.0; you may not use this file except in compliance with the Elastic License
- * 2.0.
- */
-
-import moment from 'moment';
-import {
-  calendarAlignedTimeWindowSchema,
-  Duration,
-  occurrencesBudgetingMethodSchema,
-  rollingTimeWindowSchema,
-  timeslicesBudgetingMethodSchema,
-} from '@kbn/slo-schema';
-
-import { DateRange, ErrorBudget, IndicatorData, SLO, toMomentUnitOfTime } from '../models';
-import { toHighPrecision } from '../../utils/number';
-
-// More details about calculus: https://github.com/elastic/kibana/issues/143980
-export function computeErrorBudget(slo: SLO, sliData: IndicatorData): ErrorBudget {
-  const { good, total } = sliData;
-  if (total === 0 || good >= total) {
-    const initialErrorBudget = 1 - slo.objective.target;
-    return toErrorBudget(initialErrorBudget, 0);
-  }
-
-  if (rollingTimeWindowSchema.is(slo.timeWindow)) {
-    return computeForRolling(slo, sliData);
-  }
-
-  if (calendarAlignedTimeWindowSchema.is(slo.timeWindow)) {
-    if (timeslicesBudgetingMethodSchema.is(slo.budgetingMethod)) {
-      return computeForCalendarAlignedWithTimeslices(slo, sliData);
-    }
-
-    if (occurrencesBudgetingMethodSchema.is(slo.budgetingMethod)) {
-      return computeForCalendarAlignedWithOccurrences(slo, sliData);
-    }
-  }
-
-  throw new Error('Invalid slo time window');
-}
-
-function computeForRolling(slo: SLO, sliData: IndicatorData) {
-  const { good, total } = sliData;
-  const initialErrorBudget = 1 - slo.objective.target;
-  const consumedErrorBudget = (total - good) / (total * initialErrorBudget);
-  return toErrorBudget(initialErrorBudget, consumedErrorBudget);
-}
-
-function computeForCalendarAlignedWithOccurrences(slo: SLO, sliData: IndicatorData) {
-  const { good, total, dateRange } = sliData;
-  const initialErrorBudget = 1 - slo.objective.target;
-  const now = moment();
-
-  const durationCalendarPeriod = moment(dateRange.to).diff(dateRange.from, 'minutes');
-  const durationSinceBeginning = now.isAfter(dateRange.to)
-    ? durationCalendarPeriod
-    : moment(now).diff(dateRange.from, 'minutes');
-
-  const totalEventsEstimatedAtPeriodEnd = Math.round(
-    (total / durationSinceBeginning) * durationCalendarPeriod
-  );
-
-  const consumedErrorBudget =
-    (total - good) / (totalEventsEstimatedAtPeriodEnd * initialErrorBudget);
-  return toErrorBudget(initialErrorBudget, consumedErrorBudget, true);
-}
-
-function computeForCalendarAlignedWithTimeslices(slo: SLO, sliData: IndicatorData) {
-  const { good, total, dateRange } = sliData;
-  const initialErrorBudget = 1 - slo.objective.target;
-
-  const totalSlices = computeTotalSlicesFromDateRange(dateRange, slo.objective.timesliceWindow!);
-  const consumedErrorBudget = (total - good) / (totalSlices * initialErrorBudget);
-
-  return toErrorBudget(initialErrorBudget, consumedErrorBudget);
-}
-
-export function computeTotalSlicesFromDateRange(dateRange: DateRange, timesliceWindow: Duration) {
-  const dateRangeDurationInUnit = moment(dateRange.to).diff(
-    dateRange.from,
-    toMomentUnitOfTime(timesliceWindow.unit)
-  );
-  const totalSlices = Math.ceil(dateRangeDurationInUnit / timesliceWindow!.value);
-  return totalSlices;
-}
-
-export function toErrorBudget(
-  initial: number,
-  consumed: number,
-  isEstimated: boolean = false
-): ErrorBudget {
-  return {
-    initial: toHighPrecision(initial),
-    consumed: toHighPrecision(consumed),
-    remaining: toHighPrecision(1 - consumed),
-    isEstimated,
-  };
-}
diff --git a/x-pack/plugins/observability/server/domain/services/compute_sli.test.ts b/x-pack/plugins/observability/server/domain/services/compute_sli.test.ts
index 5ecb7cafc805e..f2c1a08d47c46 100644
--- a/x-pack/plugins/observability/server/domain/services/compute_sli.test.ts
+++ b/x-pack/plugins/observability/server/domain/services/compute_sli.test.ts
@@ -9,18 +9,18 @@ import { computeSLI } from './compute_sli';
 
 describe('computeSLI', () => {
   it('returns -1 when no total events', () => {
-    expect(computeSLI({ good: 100, total: 0 })).toEqual(-1);
+    expect(computeSLI(100, 0)).toEqual(-1);
   });
 
   it('returns the sli value', () => {
-    expect(computeSLI({ good: 100, total: 1000 })).toEqual(0.1);
+    expect(computeSLI(100, 1000)).toEqual(0.1);
   });
 
   it('returns 1 when good is greater than total events', () => {
-    expect(computeSLI({ good: 9999, total: 9 })).toEqual(1);
+    expect(computeSLI(9999, 9)).toEqual(1);
   });
 
   it('returns rounds the value to 6 digits', () => {
-    expect(computeSLI({ good: 33, total: 90 })).toEqual(0.366667);
+    expect(computeSLI(33, 90)).toEqual(0.366667);
   });
 });
diff --git a/x-pack/plugins/observability/server/domain/services/compute_sli.ts b/x-pack/plugins/observability/server/domain/services/compute_sli.ts
index d944e427564fa..eb7d0493f5534 100644
--- a/x-pack/plugins/observability/server/domain/services/compute_sli.ts
+++ b/x-pack/plugins/observability/server/domain/services/compute_sli.ts
@@ -5,13 +5,11 @@
  * 2.0.
  */
 
-import { IndicatorData } from '../models';
 import { toHighPrecision } from '../../utils/number';
 
 const NO_DATA = -1;
 
-export function computeSLI(sliData: Pick<IndicatorData, 'good' | 'total'>): number {
-  const { good, total } = sliData;
+export function computeSLI(good: number, total: number): number {
   if (total === 0) {
     return NO_DATA;
   }
diff --git a/x-pack/plugins/observability/server/domain/services/compute_summary_status.ts b/x-pack/plugins/observability/server/domain/services/compute_summary_status.ts
index 76217973e7ccd..3aaaffe180b6a 100644
--- a/x-pack/plugins/observability/server/domain/services/compute_summary_status.ts
+++ b/x-pack/plugins/observability/server/domain/services/compute_summary_status.ts
@@ -12,7 +12,7 @@ export function computeSummaryStatus(slo: SLO, sliValue: number, errorBudget: Er
     return 'NO_DATA';
   }
 
-  if (slo.objective.target <= sliValue) {
+  if (sliValue >= slo.objective.target) {
     return 'HEALTHY';
   } else {
     return errorBudget.remaining > 0 ? 'DEGRADING' : 'VIOLATED';
diff --git a/x-pack/plugins/observability/server/domain/services/error_budget.ts b/x-pack/plugins/observability/server/domain/services/error_budget.ts
new file mode 100644
index 0000000000000..74165c5eec560
--- /dev/null
+++ b/x-pack/plugins/observability/server/domain/services/error_budget.ts
@@ -0,0 +1,22 @@
+/*
+ * Copyright Elasticsearch B.V. and/or licensed to Elasticsearch B.V. under one
+ * or more contributor license agreements. Licensed under the Elastic License
+ * 2.0; you may not use this file except in compliance with the Elastic License
+ * 2.0.
+ */
+
+import { toHighPrecision } from '../../utils/number';
+import { ErrorBudget } from '../models';
+
+export function toErrorBudget(
+  initial: number,
+  consumed: number,
+  isEstimated: boolean = false
+): ErrorBudget {
+  return {
+    initial: toHighPrecision(initial),
+    consumed: toHighPrecision(consumed),
+    remaining: toHighPrecision(1 - consumed),
+    isEstimated,
+  };
+}
diff --git a/x-pack/plugins/observability/server/domain/services/index.ts b/x-pack/plugins/observability/server/domain/services/index.ts
index 7dd7cf7d85344..212647f27b172 100644
--- a/x-pack/plugins/observability/server/domain/services/index.ts
+++ b/x-pack/plugins/observability/server/domain/services/index.ts
@@ -6,7 +6,7 @@
  */
 
 export * from './compute_burn_rate';
-export * from './compute_error_budget';
+export * from './error_budget';
 export * from './compute_sli';
 export * from './compute_summary_status';
 export * from './date_range';
diff --git a/x-pack/plugins/observability/server/services/slo/__snapshots__/historical_summary_client.test.ts.snap b/x-pack/plugins/observability/server/services/slo/__snapshots__/historical_summary_client.test.ts.snap
index 94237416e64ce..f2c4518c18ecb 100644
--- a/x-pack/plugins/observability/server/services/slo/__snapshots__/historical_summary_client.test.ts.snap
+++ b/x-pack/plugins/observability/server/services/slo/__snapshots__/historical_summary_client.test.ts.snap
@@ -4,10 +4,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 1,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -18,10 +18,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.003226,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.996774,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -32,10 +32,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.006452,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.993548,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -46,10 +46,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.009678,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.990322,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -60,10 +60,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.012904,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.987096,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -74,10 +74,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.016129,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.983871,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -88,10 +88,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.019355,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.980645,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -102,10 +102,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.022581,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.977419,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -116,10 +116,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.025806,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.974194,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -130,10 +130,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.029033,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.970967,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -144,10 +144,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.032258,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.967742,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -158,10 +158,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.035485,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.964515,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -172,10 +172,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.03871,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.96129,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -186,10 +186,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.041937,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.958063,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -200,10 +200,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.045163,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.954837,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -214,10 +214,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
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@@ -956,10 +956,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.219361,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.780639,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -970,10 +970,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.222587,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.777413,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -984,10 +984,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.225815,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.774185,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -998,10 +998,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.229032,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.770968,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1012,10 +1012,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.232262,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.767738,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1026,10 +1026,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.235494,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.764506,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1040,10 +1040,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.238714,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.761286,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1054,10 +1054,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.241935,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.758065,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1068,10 +1068,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.245171,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.754829,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1082,10 +1082,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.248394,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.751606,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1096,10 +1096,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.251619,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.748381,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1110,10 +1110,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.254845,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.745155,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1124,10 +1124,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.258071,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.741929,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1138,10 +1138,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.261299,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.738701,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1152,10 +1152,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.264528,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.735472,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1166,10 +1166,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.267743,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.732257,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1180,10 +1180,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.270974,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.729026,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1194,10 +1194,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.274206,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.725794,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1208,10 +1208,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.277423,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.722577,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1222,10 +1222,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.280657,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.719343,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1236,10 +1236,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.283876,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.716124,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1250,10 +1250,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.287097,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.712903,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1264,10 +1264,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.290333,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.709667,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1278,10 +1278,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.293555,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.706445,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1292,10 +1292,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.296777,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.703223,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1306,10 +1306,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.3,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.7,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1320,10 +1320,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.30324,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.69676,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1334,10 +1334,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.306464,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.693536,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1348,10 +1348,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.30969,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.69031,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1362,10 +1362,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.312916,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.687084,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1376,10 +1376,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.316142,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.683858,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1390,10 +1390,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.31937,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.68063,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1404,10 +1404,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.322581,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.677419,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1418,10 +1418,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.325809,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.674191,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1432,10 +1432,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.329038,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.670962,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1446,10 +1446,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.332268,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.667732,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1460,10 +1460,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.335499,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.664501,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1474,10 +1474,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.338712,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.661288,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1488,10 +1488,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.341944,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.658056,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
@@ -1502,10 +1502,10 @@ exports[`FetchHistoricalSummary Calendar Aligned and Occurrences SLOs returns th
 Object {
   "date": Any<ClockDate>,
   "errorBudget": Object {
-    "consumed": 0.345177,
+    "consumed": 0.6,
     "initial": 0.05,
     "isEstimated": true,
-    "remaining": 0.654823,
+    "remaining": 0.4,
   },
   "sliValue": 0.97,
   "status": "HEALTHY",
diff --git a/x-pack/plugins/observability/server/services/slo/historical_summary_client.ts b/x-pack/plugins/observability/server/services/slo/historical_summary_client.ts
index 5a2e8dd575303..e2de4b1146947 100644
--- a/x-pack/plugins/observability/server/services/slo/historical_summary_client.ts
+++ b/x-pack/plugins/observability/server/services/slo/historical_summary_client.ts
@@ -9,6 +9,7 @@ import { MsearchMultisearchBody } from '@elastic/elasticsearch/lib/api/typesWith
 import { ElasticsearchClient } from '@kbn/core/server';
 import {
   calendarAlignedTimeWindowSchema,
+  Duration,
   occurrencesBudgetingMethodSchema,
   rollingTimeWindowSchema,
   timeslicesBudgetingMethodSchema,
@@ -16,13 +17,11 @@ import {
 } from '@kbn/slo-schema';
 import { assertNever } from '@kbn/std';
 import moment from 'moment';
-
-import { SLO_DESTINATION_INDEX_NAME } from '../../assets/constants';
+import { SLO_DESTINATION_INDEX_PATTERN } from '../../assets/constants';
 import { DateRange, HistoricalSummary, SLO, SLOId } from '../../domain/models';
 import {
   computeSLI,
   computeSummaryStatus,
-  computeTotalSlicesFromDateRange,
   toDateRange,
   toErrorBudget,
 } from '../../domain/services';
@@ -59,7 +58,7 @@ export class DefaultHistoricalSummaryClient implements HistoricalSummaryClient {
     }, {});
 
     const searches = sloList.flatMap((slo) => [
-      { index: `${SLO_DESTINATION_INDEX_NAME}*` },
+      { index: SLO_DESTINATION_INDEX_PATTERN },
       generateSearchQuery(slo, dateRangeBySlo[slo.id]),
     ]);
 
@@ -98,11 +97,9 @@ export class DefaultHistoricalSummaryClient implements HistoricalSummaryClient {
         }
 
         if (occurrencesBudgetingMethodSchema.is(slo.budgetingMethod)) {
-          const dateRange = dateRangeBySlo[slo.id];
           historicalSummaryBySlo[slo.id] = handleResultForCalendarAlignedAndOccurrences(
             slo,
-            buckets,
-            dateRange
+            buckets
           );
           continue;
         }
@@ -119,29 +116,15 @@ export class DefaultHistoricalSummaryClient implements HistoricalSummaryClient {
 
 function handleResultForCalendarAlignedAndOccurrences(
   slo: SLO,
-  buckets: DailyAggBucket[],
-  dateRange: DateRange
+  buckets: DailyAggBucket[]
 ): HistoricalSummary[] {
   const initialErrorBudget = 1 - slo.objective.target;
 
   return buckets.map((bucket: DailyAggBucket): HistoricalSummary => {
     const good = bucket.cumulative_good?.value ?? 0;
     const total = bucket.cumulative_total?.value ?? 0;
-    const sliValue = computeSLI({ good, total });
-
-    const durationCalendarPeriod = moment(dateRange.to).diff(dateRange.from, 'minutes');
-    const bucketDate = moment(bucket.key_as_string);
-    const durationSinceBeginning = bucketDate.isSameOrAfter(dateRange.to)
-      ? durationCalendarPeriod
-      : moment(bucketDate).diff(dateRange.from, 'minutes');
-
-    const totalEventsEstimatedAtPeriodEnd = Math.round(
-      (total / durationSinceBeginning) * durationCalendarPeriod
-    );
-
-    const consumedErrorBudget =
-      (total - good) / (totalEventsEstimatedAtPeriodEnd * initialErrorBudget);
-
+    const sliValue = computeSLI(good, total);
+    const consumedErrorBudget = sliValue < 0 ? 0 : (1 - sliValue) / initialErrorBudget;
     const errorBudget = toErrorBudget(initialErrorBudget, consumedErrorBudget, true);
 
     return {
@@ -163,7 +146,7 @@ function handleResultForCalendarAlignedAndTimeslices(
   return buckets.map((bucket: DailyAggBucket): HistoricalSummary => {
     const good = bucket.cumulative_good?.value ?? 0;
     const total = bucket.cumulative_total?.value ?? 0;
-    const sliValue = computeSLI({ good, total });
+    const sliValue = computeSLI(good, total);
     const totalSlices = computeTotalSlicesFromDateRange(dateRange, slo.objective.timesliceWindow!);
     const consumedErrorBudget = (total - good) / (totalSlices * initialErrorBudget);
     const errorBudget = toErrorBudget(initialErrorBudget, consumedErrorBudget);
@@ -190,8 +173,8 @@ function handleResultForRolling(slo: SLO, buckets: DailyAggBucket[]): Historical
     .map((bucket: DailyAggBucket): HistoricalSummary => {
       const good = bucket.cumulative_good?.value ?? 0;
       const total = bucket.cumulative_total?.value ?? 0;
-      const sliValue = computeSLI({ good, total });
-      const consumedErrorBudget = total === 0 ? 0 : (total - good) / (total * initialErrorBudget);
+      const sliValue = computeSLI(good, total);
+      const consumedErrorBudget = sliValue < 0 ? 0 : (1 - sliValue) / initialErrorBudget;
       const errorBudget = toErrorBudget(initialErrorBudget, consumedErrorBudget);
 
       return {
@@ -305,6 +288,14 @@ function getDateRange(slo: SLO) {
   assertNever(slo.timeWindow);
 }
 
+function computeTotalSlicesFromDateRange(dateRange: DateRange, timesliceWindow: Duration) {
+  const dateRangeDurationInUnit = moment(dateRange.to).diff(
+    dateRange.from,
+    toMomentUnitOfTime(timesliceWindow.unit)
+  );
+  return Math.ceil(dateRangeDurationInUnit / timesliceWindow!.value);
+}
+
 export function getFixedIntervalAndBucketsPerDay(durationInDays: number): {
   fixedInterval: string;
   bucketsPerDay: number;
diff --git a/x-pack/plugins/observability/server/services/slo/sli_client.ts b/x-pack/plugins/observability/server/services/slo/sli_client.ts
index fe0959b57224a..fe03e4140ed10 100644
--- a/x-pack/plugins/observability/server/services/slo/sli_client.ts
+++ b/x-pack/plugins/observability/server/services/slo/sli_client.ts
@@ -13,13 +13,12 @@ import {
   MsearchMultisearchBody,
 } from '@elastic/elasticsearch/lib/api/typesWithBodyKey';
 import { ElasticsearchClient } from '@kbn/core/server';
-import { assertNever } from '@kbn/std';
 import { occurrencesBudgetingMethodSchema, timeslicesBudgetingMethodSchema } from '@kbn/slo-schema';
-
-import { SLO_DESTINATION_INDEX_NAME } from '../../assets/constants';
+import { assertNever } from '@kbn/std';
+import { SLO_DESTINATION_INDEX_PATTERN } from '../../assets/constants';
+import { DateRange, Duration, IndicatorData, SLO } from '../../domain/models';
 import { toDateRange } from '../../domain/services/date_range';
 import { InternalQueryError } from '../../errors';
-import { DateRange, Duration, IndicatorData, SLO } from '../../domain/models';
 
 export interface SLIClient {
   fetchSLIDataFrom(
@@ -56,7 +55,7 @@ export class DefaultSLIClient implements SLIClient {
     if (occurrencesBudgetingMethodSchema.is(slo.budgetingMethod)) {
       const result = await this.esClient.search<unknown, EsAggregations>({
         ...commonQuery(slo, longestDateRange),
-        index: `${SLO_DESTINATION_INDEX_NAME}*`,
+        index: SLO_DESTINATION_INDEX_PATTERN,
         aggs: toLookbackWindowsAggregationsQuery(sortedLookbackWindows),
       });
 
@@ -66,7 +65,7 @@ export class DefaultSLIClient implements SLIClient {
     if (timeslicesBudgetingMethodSchema.is(slo.budgetingMethod)) {
       const result = await this.esClient.search<unknown, EsAggregations>({
         ...commonQuery(slo, longestDateRange),
-        index: `${SLO_DESTINATION_INDEX_NAME}*`,
+        index: SLO_DESTINATION_INDEX_PATTERN,
         aggs: toLookbackWindowsSlicedAggregationsQuery(slo, sortedLookbackWindows),
       });
 
@@ -159,8 +158,8 @@ function handleWindowedResult(
   }
 
   const indicatorDataPerLookbackWindow: Record<WindowName, IndicatorData> = {};
-  lookbackWindows.forEach((lookbackWindow) => {
-    const windowAggBuckets = aggregations[lookbackWindow.name]?.buckets;
+  for (const lookbackWindow of lookbackWindows) {
+    const windowAggBuckets = aggregations[lookbackWindow.name]?.buckets ?? [];
     if (!Array.isArray(windowAggBuckets) || windowAggBuckets.length === 0) {
       throw new InternalQueryError('Invalid aggregation bucket response');
     }
@@ -176,7 +175,7 @@ function handleWindowedResult(
       total,
       dateRange: { from: new Date(bucket.from_as_string!), to: new Date(bucket.to_as_string!) },
     };
-  });
+  }
 
   return indicatorDataPerLookbackWindow;
 }
diff --git a/x-pack/plugins/observability/server/services/slo/summary_client.ts b/x-pack/plugins/observability/server/services/slo/summary_client.ts
index 94fa69fb12371..fe01e22608260 100644
--- a/x-pack/plugins/observability/server/services/slo/summary_client.ts
+++ b/x-pack/plugins/observability/server/services/slo/summary_client.ts
@@ -7,11 +7,18 @@
 
 import { MsearchMultisearchBody } from '@elastic/elasticsearch/lib/api/typesWithBodyKey';
 import { ElasticsearchClient } from '@kbn/core/server';
-import { occurrencesBudgetingMethodSchema, timeslicesBudgetingMethodSchema } from '@kbn/slo-schema';
-import { SLO_DESTINATION_INDEX_NAME } from '../../assets/constants';
-import { toDateRange } from '../../domain/services/date_range';
+import {
+  calendarAlignedTimeWindowSchema,
+  Duration,
+  occurrencesBudgetingMethodSchema,
+  timeslicesBudgetingMethodSchema,
+  toMomentUnitOfTime,
+} from '@kbn/slo-schema';
+import moment from 'moment';
+import { SLO_DESTINATION_INDEX_PATTERN } from '../../assets/constants';
 import { DateRange, SLO, SLOId, Summary } from '../../domain/models';
-import { computeErrorBudget, computeSLI, computeSummaryStatus } from '../../domain/services';
+import { computeSLI, computeSummaryStatus, toErrorBudget } from '../../domain/services';
+import { toDateRange } from '../../domain/services/date_range';
 
 export interface SummaryClient {
   fetchSummary(sloList: SLO[]): Promise<Record<SLOId, Summary>>;
@@ -26,7 +33,7 @@ export class DefaultSummaryClient implements SummaryClient {
       return acc;
     }, {});
     const searches = sloList.flatMap((slo) => [
-      { index: `${SLO_DESTINATION_INDEX_NAME}*` },
+      { index: SLO_DESTINATION_INDEX_PATTERN },
       generateSearchQuery(slo, dateRangeBySlo[slo.id]),
     ]);
 
@@ -45,12 +52,31 @@ export class DefaultSummaryClient implements SummaryClient {
       const good = aggregations?.good?.value ?? 0;
       const total = aggregations?.total?.value ?? 0;
 
-      const sliValue = computeSLI({ good, total });
-      const errorBudget = computeErrorBudget(slo, {
-        dateRange: dateRangeBySlo[slo.id],
-        good,
-        total,
-      });
+      const sliValue = computeSLI(good, total);
+      const initialErrorBudget = 1 - slo.objective.target;
+      let errorBudget;
+
+      if (
+        calendarAlignedTimeWindowSchema.is(slo.timeWindow) &&
+        timeslicesBudgetingMethodSchema.is(slo.budgetingMethod)
+      ) {
+        const totalSlices = computeTotalSlicesFromDateRange(
+          dateRangeBySlo[slo.id],
+          slo.objective.timesliceWindow!
+        );
+        const consumedErrorBudget =
+          sliValue < 0 ? 0 : (total - good) / (totalSlices * initialErrorBudget);
+
+        errorBudget = toErrorBudget(initialErrorBudget, consumedErrorBudget);
+      } else {
+        const consumedErrorBudget = sliValue < 0 ? 0 : (1 - sliValue) / initialErrorBudget;
+        errorBudget = toErrorBudget(
+          initialErrorBudget,
+          consumedErrorBudget,
+          calendarAlignedTimeWindowSchema.is(slo.timeWindow)
+        );
+      }
+
       summaryBySlo[slo.id] = {
         sliValue,
         errorBudget,
@@ -62,6 +88,14 @@ export class DefaultSummaryClient implements SummaryClient {
   }
 }
 
+function computeTotalSlicesFromDateRange(dateRange: DateRange, timesliceWindow: Duration) {
+  const dateRangeDurationInUnit = moment(dateRange.to).diff(
+    dateRange.from,
+    toMomentUnitOfTime(timesliceWindow.unit)
+  );
+  return Math.ceil(dateRangeDurationInUnit / timesliceWindow!.value);
+}
+
 function generateSearchQuery(slo: SLO, dateRange: DateRange): MsearchMultisearchBody {
   return {
     size: 0,