In fact, economic, political, and industrial progress in addition to the emergence of advanced production technology has led to increase of global competition in field of total quality. Moreover, competition has become the first ruler in business environment. Consequently, institutions in general and industrial organizations in particular, are working hard to meet such development and keep up-to-date through using a strategic perspective that is crystallized in the well-management of their organizations from both internal and external competitive environment, by also analyzing weakness and strength points and managing costs. Management of costs considers one of the main factors of competition in modern environments attempting to achieve production in least costs, highest quality, and best price in order to gratify clients. This research purpose is to present a proposed framework for developing approaches of preparing cost-lists in strategic industries in order to pricing them. The study uses the inductive and the deductive methods. The inductive method aims at preparing the theoretical framework and forming the study problem and hypotheses; while the deductive method drives at designing an investigation form using Likert Quintet Scale. Study population is represented in employees working in strategic industries companies, namely, (Pharmacology companies). The sample consists of (100) items, and their matching and reliability are tested by counting Alfa value; since they are all bigger than (0.07), denoting consistency of variables. The researcher uses Pearson Coefficient Correlation to count validity of internal consistency between each axis and the total investigation. The coefficient correlation values have been statistically significant at (0.05) level. The most important results of study show a significant correlation between decision of pricing products in industries and the development of cost measuring approaches and increasing of the competitive ability of those industries. There is a significant difference between production costs using traditional approaches and using the suggested approach. There is a significant difference between the net profits of products using traditional methods and using the proposed approach. This research recommends the necessity for reducing production costs by following cost management approaches and considering the proposed approach for measuring costs production at decision-making of pricing strategic industries' products.