Design management is one of the key processes of any construction project, and its effects across other construction processes are quite pivotal. Irrespective of the particular project delivery system, design management plays a significant role in overall cost outcomes in a project. Design management requires a careful investigation in relation to its potential influence on downstream cost over-run issues in most construction projects. In this research, a selected set of 25 attributes associated with design management have been analyzed from the perspective of three key stakeholders: designers, clients and contractors. Based on Factor Analysis, pre-design consideration is found to have significant effects on managing cost performance in project. Regression analysis reveals that the initial follow-up of design with respective parties potentially contributes in cost savings at the latter phase of project. The finding is expected to lead towards improvement of Design Management practices, and meeting the project objectives through better quality, improved constructability, and, eventually, providing value for money to both investors and owners in the project.