The press tool life is major criteria in high volume production of sheet metal components. For a Progressive die, proper tool life and component accuracy are necessity for achieving higher productivity and low cost per component. In this study we are going to form a basis by accumulating factors for tool life selection and making data easily available for industrial designers. The data is based on old tool  which was analyzed and its characteristics were studied closely and improvements were made which is a part of our project. The main aim of our study is to manufacture large number of components in less time. The press tool in this study will have a very short stoke. After making the press tool we will inspect the component and then finalize the tool for production. We will also record the data for cost estimation. Thus, factor selection is made easy by specific data made available and the usefulness of the system is demonstrated by sample run of press tool design. It caters for obtaining the final components conforming to required dimensions and standards.