Where equally effective alternative means of achieving the same sound biological objective exist, the alternative with the minimum economic cost is considered the most cost-effective measure.

A term describing a resource that is available within the time it is needed and is able to meet or reduce electrical power demand at an estimated incremental system cost no greater than that of the least-costly, similarly reliable and available alternative.

alternative. An alternative control or corrective method identified as the best available in terms of reliability, permanence, and economic considerations.

productive relative to the cost

Related to products, this term is used to describe the general awareness, during the product development process, toward meeting cost constraints. Factors considered are related to the Bill of Materials and cost of design and development, tooling, and manufacturing. See: BOM, and Sundberg-Ferar Mission Statement.

A criterion that specifies that a technology or measure deliver a good or service at equal or lower cost than current practice. In this paper, environmental externalities are not internalized; payback periods vary, depending on the particular sector and market.

The quality of minimising cost in pursuit of an objective.

The management of cost to profit.

able at least to pay for itself or make a profit