The improvement of dimensional accuracy for forged part is one of major goals in cold forging industry. There are many problems in controlling the dimension by the trial-and-error, especially for a precision forged gear. A FEM analysis has been used in developing the forging technology. However, FE techniques have to be reconfirmed for predicting accurately the dimension of forged part. In this study, the effects of elastic characteristics and temperature changes are investigated by the comparisons between experimental and FEA in cold forging. When FE models related with elastic characteristics are considered practically, FE results could predict the part dimension within the range of $10mu extrm{m}$. And if thermal effects also are considered additionally, the predicted dimensions are well coincided with the experimental down to about $5mu extrm{m}$.