Effectiveness has to do with how well the instruction enables learners to achieve stated goals or expected outcomes. Efficiency deals with the energy and time invested to complete the instruction, while cost covers all expense incurred for its design and delivery.
These are good points to begin with. It's equally important, however, to zero in on the details involving the design and development of quality instruction. As with any other good design principles, there are human characteristics deeply involved here.
Richard Buchanan, a professor of Design, Management and Information Systems, said it best: “a good design can be defined not only to be creative, stylish with extraordinary visual look, but it must consider human engagement in its activities.”