This research assesses methods of obtaining project cost estimates for both public and private sectors in Saudi Arabia and the United Kingdom. The most common tools and techniques are compared with important advantages and disadvantages of each identified. Proponents of the new software, known as Multi Dimensional Computer Aided Modeling (MD CAD) argue that it is the most effective method, having the advantages of accuracy, speed and ease of use in producing cost estimates. Additionally it is shown that this method leads to cost and time savings. Research critically examines the use of a library of material codes and specifications to determine whether it is best for developing countries to utilise an existing developed country’s library or to produce a country specific data base e.g. related to Saudi Arabia’s economy and construction standards.