Ad
related to: principle of effectiveness and efficiency
Search results
Results From The WOW.Com Content Network
Efficiency is very often confused with effectiveness. In general, efficiency is a measurable concept, quantitatively determined by the ratio of useful output to total useful input. Effectiveness is the simpler concept of being able to achieve a desired result, which can be expressed quantitatively but does not usually require more complicated ...
The efficiency–thoroughness trade-off principle (or ETTO principle) is the principle that there is a trade-off between efficiency or effectiveness on one hand, and thoroughness (such as safety assurance and human reliability) on the other. [1]
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.
Efficacy, efficiency, and effectivity are terms that can, in some cases, be interchangeable with the term effectiveness. The word effective is sometimes used in a quantitative way, "being very effective or not very effective". However, neither "effectiveness", nor "effectively", inform about the direction (positive or negative) or gives a ...
In statistics, efficiency is a measure of quality of an estimator, of an experimental design, [1] or of a hypothesis testing procedure. [2] Essentially, a more efficient estimator needs fewer input data or observations than a less efficient one to achieve the Cramér–Rao bound.
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
Federal-state partnerships can be effective, but federal bureaucracies in areas like education and energy could be significantly streamlined to maximize state control over flexible federal funds.
Cost-effectiveness analysis focuses on maximising the average level of an outcome, distributional cost-effectiveness analysis extends the core methods of CEA to incorporate concerns for the distribution of outcomes as well as their average level and make trade-offs between equity and efficiency, these more sophisticated methods are of ...