Question

Compare and contrast the concepts cost-effective and cost-saving. How are each addressed in a monitoring and evaluation context?

compare and contrast the concepts of cost-effective and cost-saving of a health program and how are each addressed in a monitoring and evaluation context?

Answer 1

Similarities between cost-effective and cost-saving :

1.Both of these value the quality of the product

2. Both of these value both the sellers and the buyers

3. Both of these give the reasonable value for the product

Differences :

Cost effective. Cost saving 1.profitable for both buyers 1. Profitable for only and sellers buyers

2.Value of product is accurate. 2. Value of product can be reduced

3. Has reasonable value for 3. Can control additional monetary payment additional expenses

4. Related to transaction 4. Related to both transactional and strategic value