The effectiveness is relative to what it is needed.
Of the three procedures for reshaping a forehead + the implants (not done very often, sometimes used to get a round forehead in the upper part), it depends on how your forehead looks in an X-Ray. If the bossing is small and the sinuses are pretty set back (Type I), it can be just shaved. If there is considerable bossing, sinuses are set close to the wall, and this wall is thin, then a complete reconstruction wold be required (Type III)
Taking my own example: I have a massive brow, but the x-ray reveals that There is no thick bone to shave and what I have is an empty cavity behind my brow, so I will need a Full Type III recontouring to set back my sinuses and reshape the bone before putting it back in place.
On other examples, there are cases when a surgeon only knows how to shave (Zukowsky, I believe?), and patients will still be left with a "bump", in a case where shaving the bone was not enough.
Brow lift, unless done on its own, is an complementary procedure when doing forehead work, since the new shape of the forehead will require adjusting the eyebrows to it.