It is well known that the civil engineering constructions are subjected to cost risk and time overruns. The uncertainties of the cost of construction many times result in disputes among stakeholders. The recent cost fluctuation in sand price in Tamil Nadu is a good example of time and cost overruns. There are too many models developed to predict the cost of construction by using different parameters and tools. The objectives of this research are to analyse the importance of research in this field, the countries focusing on this issue, level of implementation by the practicing engineers, the tools often or successfully used, the difficulties in predicting the cost and the accuracy of prediction and bringing out a useful conclusion to provide the direction for future research. In this research, a sample of 324 research papers out of more than 2000 papers listed in Scopus database between the years 1990 and 2015 were considered and analyzed on five factors. The five factors are 1) authors affiliation – academics, industry or both; 2) country; 3) tools used – ANN, regression, time-series models, etc.; 4) complexity involved or ease of use; 5) accuracy of results. The results show interesting information.