Vocabulary Term Details

Efficiency

Definition (http://en.wikipedia.org/wiki/Efficiency)

Efficiency in general, describes the extent to which time, effort or cost is well used for the intended task or purpose. It is often used with the specific purpose of relaying the capability of a specific application of effort to produce a specific outcome effectively with a minimum amount or quantity of waste, expense, or unnecessary effort. (Wikipedia)

Preferred Units: N/A

Scope Note:
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Broader TermsNarrower TermsRelated Terms
Properties
Use efficiency
Cost analysis
Economic value
Management
Profitability
Project evaluation
Rationalisation
Uses
Wastage

This term is used for the following terms: 
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Approved Date
12-Aug-2013

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