The extent to which an investment or a program’s outcomes and objectives were achieved, relative to progress expected. Effectiveness considerations must be balanced with whether the use of Commonwealth resources will also be efficient, economical and ethical. 

A measure of how well resources (for example, funds, expertise and time) are minimised for a given level of activity outputs, or the extent to which outputs are maximised for a given level of inputs. Efficiency considerations must be balanced with whether the use of Commonwealth resources will also be effective, economical and ethical.