A building design is deemed to be cost- effective if it results in benefits equal to those of alternative designs and has a lower whole life cost , or total cost of ownership. ... The challenge is often how to determine the true costs and the true benefits of alternative decisions.
What is cost-effective building design?
There are a number of ways to cut costs when constructing a building. ... Cost-effective does not mean substandard or poor quality structures. Quite the opposite, it involves strategies intended to optimise resources, technologies, material utilisation, and maximise efficiency of the structure .
What does cost-effective imply?
: producing good results without costing a lot of money cost-effective measures to combat poverty Robot spot welding can be quite cost-effective ...—
Is it good to be cost-effective?
The definition of cost effective is something that is a good value, where the benefits and usage are worth at least what is paid for them. ... Producing good results for the amount of money spent; economical or efficient .
Is it cost efficient or cost-effective?
Efficient (adj.) – Performing or functioning in the best possible manner with the least waste of time and effort. Being cost-effective is more about getting a task done at all, while cost efficiency is about getting a task done, but with the least waste and with the best use of resources.
Which is the most cost-effective construction technique?
- LAMINATED VENEER LUMBER. ...
- AUTOCLAVED AERATED CONCRETE. ...
- CARDBOARD. ...
- LIGHT TRANSMIT CONCRETE. ...
- SELF-HEALING CONCRETE. ...
- BAMBOO. ...
- STRAW ROOFING. ...
- NATURAL STONE.
What is cost-effective material?
These materials are called cost-effective. modern construction materials. ➢ Every material has its own advantages and disadvantage. So the material with . more advantages and less cost is called as a cost effective construction materials.
Does cost efficiency mean least costly?
What is Cost Efficiency? Dictionary.com defines efficiency as, “performing or functioning in the best possible manner with the least waste of time and effort.” It is cost-efficient when costs are low when you’re pursuing the wrong goals , but not losing a lot of money in the process.
Which is the most cost efficient connection?
Which is the most cost efficient connection? Explanation: The advantage of series-connections is that they share the supply voltage, hence cheap low voltage appliances may be used.
What cost effective techniques?
Cost effective method is the one which benefits the product with a lower cost . The cost effective techniques which can be followed for a product can be the following: ... – The location where the product is made matters a lot too, it should have access to the raw materials and the labors needed to produce the product.
How do you increase cost effectiveness?
- Creating competition between suppliers. ...
- Reducing cost by changing suppliers. ...
- Efficient inventory management systems. ...
- Eliminating multiple sources of suppliers. ...
- Consolidation of administrative activities.
What is another way to say cost-effective?
In this page you can discover 26 synonyms, antonyms, idiomatic expressions, and related words for cost-effective, like: economical , low-cost, cost-efficient, thrifty, environmentally friendly, worthwhile, , penny-wise, convenient, frugal and cost-efficiently.
Why is cost effectiveness important?
Cost-effectiveness analysis helps identify neglected opportunities by highlighting interventions that are relatively inexpensive , yet have the potential to reduce the disease burden substantially. For example, each year more than a million young children die from dehydration when they become ill with diarrhea.
Is it better to be effective or efficient?
The truth is that effectiveness is far more important than efficiency . According to diffen.com, effectiveness is about doing the right task, completing activities and achieving goals. Efficiency is about doing things in an optimal way, for example doing it the fastest or in the least expensive way.
How do you use cost effective in a sentence?
- Nut milk costs a pretty penny in stores, but making your own couldn’t be easier and is cost-effective. ...
- Homemade baby toys are not only cost effective but a great way to use recycled materials.
How do you calculate cost efficiency?
Businesses measure cost-efficiency by monitoring the ratio of the output produced to the costs incurred . Another way to measure cost-efficiency is to measure the revenue generated against the expenses incurred. An interesting point to note is that there is no upper limit to cost-efficiency.
