Hagkvæmni
Hagkvæmni is an Icelandic term used to describe the efficiency with which resources are converted into desired outcomes. It encompasses both the amount of output achieved and the inputs required, with a focus on maximizing value while minimizing waste.
Practically, hagkvæmni is assessed with cost-benefit analysis and other efficiency metrics, such as return on investment,
In public administration, hagkvæmni guides program design and evaluation, asking whether a policy delivers results at
Limitations: Focusing on hagkvæmni can overlook distributional effects, quality, resilience, or long-term sustainability. There may be
Etymology and usage: Hagkvæmni translates roughly to efficiency or cost-effectiveness in Icelandic, and is widely used