The main idea behind this paper is to highlight efforts made to improve the application potential of the fused deposition modelling (FDM) process by producing the rapid prototyping parts at minimum cost. Build orientation analysis for different shaped parts is carried out. The mathematical model is formulated to estimate the requirement of model material, support material, time and percentage volumetric error for part preparation in FDM. The parts produced by the FDM rapid prototyping process are considered for build orientation analysis. The concept can be extended for parts produced with any layered manufacturing process. This is the first attempt to deal with diversified types of part geometries and formulate a mathematical model for all types of parts to determine material and time in FDM.