On new project what is most important cost saving or cost effectiveness?

Project scheduling is just as important as cost budgeting as it determines the timeline, resources needed, and reality of the delivery of the project. Project managers that have experience are better able to properly dictate the tasks, effort and money required to complete a project

Proper feasibility and planning.

In our current age of accountability, public and private sector funders are increasingly concerned with the relative costs and benefits of the programs they fund. Benefit-cost (or cost-benefit) and cost-effectiveness analyses can be useful quantitative tools to help address these concerns. However, they differ in their purposes, and each has strengths and limitations. cost effectiveness