According to Beaton Consulting, a high score for "Cost consciousness" usually reflects an above average ability to work to fixed budgets and the ability to provide flexible billing options with low cost solutions. The reverse of this would to to "Spend the client's money like it was your own".
We need to demonstrate greater cost consciousness for this project by not incurring too much cost before the overall methodology is agreed by all parties.
In action... http://www.beatonglobal.com/Actually, this definition sucks. Let me add my own. You can also share "cost consciousness" with a friend or share it on Twitter.