1. The achievement of desired results or outcomes while minimizing expenses; the ratio of benefits gained to costs incurred
The company evaluated the cost effectiveness of the new software system before implementation.
A empresa avaliou o custo-benefício do novo sistema de software antes da implementação.
2. The quality of providing good value for money; efficiency in terms of financial expenditure
We need to improve cost effectiveness without compromising quality.
Precisamos melhorar o custo-benefício sem comprometer a qualidade.