Cost-effectiveness is a measure used to evaluate the efficiency of a project or investment by comparing its costs to the benefits it provides. It helps determine whether the resources spent yield a good return, often expressed in terms of cost per unit of benefit, such as cost per life saved in healthcare or cost per student in education. This concept is crucial for decision-making in various fields, including healthcare, education, and public policy. By analyzing cost-effectiveness, organizations can allocate their budgets more wisely, ensuring that they achieve the best possible outcomes for the resources available.