The process of enumerating and valuing the impact of a product, service, change, or other phenomena in terms of the resource commitments involved and the opportunities sacrificed.
Cost analysis may be one part of cost-benefit analysis or cost–effectiveness analysis in considering the value of certain changes proposed or already experienced.

Adapted from World Health Organization. Terminology. A glossary of technical terms on the economics and finance of health services. Internet. Accessed December 18, 2015.