In current scenario of software industry culture, an important and crucial task under project management is accurate estimation of practical measures like cost and effort which subsequently results in successful project completion. Many researchers have analysed and proposed various techniques in the estimation for software projects using conventional frameworks like waterfall, incremental etc. In recent years as there are technological advancements and there is a requirement of adaptation to technological changes, hence agile development methodology has attracted the interest of many researchers and software developers in software companies. Various researchers have proposed several techniques including opinion based, algorithm based and machine learning based techniques for effort and cost estimation of software projects. The proposed work in this paper deals with the study and analysis of the most popular techniques used in every category of estimation practices. In current scenario of software industry culture, an important and crucial task under project management is accurate estimation of practical measures like cost and effort which subsequently results in successful project completion. Many researchers have analysed and proposed various techniques in the estimation for software projects using conventional frameworks like waterfall, incremental etc. In recent years as there are technological advancements and there is a requirement of adaptation to technological changes, hence agile development methodology has attracted the interest of many researchers and software developers in software companies. Various researchers have proposed several techniques including opinion based, algorithm based and machine learning based techniques for effort and cost estimation of software projects. The proposed work in this study deals with the study and analysis of the most popular techniques used in every category of estimation practices used in agile development. This paper describes a review of the research work conducted in the effort estimation of non-agile and agile projects in the previous years, which consists of different techniques and approaches. The first section describes an introduction of the relevance of estimation in project management, the second section covers a study of all those researches which have analysed the use of various machine learning based techniques for estimation of software projects and in the third section a comparative analysis is done based on the studied literature in terms of ROLE OF MACHINE LEARNING TECHNIQUES IN COST PREDICTION OF AGILE PROJECTS Dr. Manju Vyas Associate Professor, Jaipur Engineering College & Research Centre, Jaipur ( Raj.) ISSN–2277- 8721 EIIRJ Volume–XII, Issue– I (a) Jan – Feb 2023 129 | P a g e Electronic International Interdisciplinary Research Journal Original Research Article SJIF Impact Factor: 8.095 Peer Reviewed Refereed Journal various factors like techniques used, estimation accuracy, and their applicability in various scenarios as part of summary of the chapter.