In the present work, the work piece material taken is chrome-moly alloy steel. This is a hard material having hardness 48 HRC. This alloy steel bears high temperature and high pressure and its tensile strength is high. It is very resistive to corrosion and temperature. For these useful properties it is used in power generation industry and petrochemical industry. Also it is used to make pressure vessels. For machining of work piece the insert chosen is Tic coated carbide insert. Three factors speed, feed and depth of cut were taken at three levels low, medium and high. By the L27 orthogonal design twenty seven runs of experiments were performed. For each run of experiment the time of cut was 2 minutes. The output responses measured were surface roughness, power consumption, chip reduction co-efficient and tool wear (flank wear). All the output responses were analyzed by SN ratio, analysis of variance, and response table. The criteria chosen here is smaller the better and the method applied is Taguchi method.