The profit margin of metallurgical enterprise is increasingly reduced because suffering the effects of the jump of raw material price and the high transparence of market price. A feasible means is to control cost which reinforce the competitive power and make the maximization of enterprise value come true. Estimated cost management provides a better way for the effective control and optimization of enterprise cost under total budget managerial system. Discussions were all expressed on how to accomplish the effective management and control of enterprise cost successfully by means of estimated cost management from multi-aspects of estimated cost such as planning, execution, control, analysis and optimization etc.