We present a systematic literature review performed to understand and summarize the application of COSMIC which is a functional size measurement (FSM) method, mainly applied for estimating software development effort. The results reveals that it is considered to be suitable for a broader range of application domains, e.g., Web applications, Mobile app. Furthermore, the review shows that a lot has been done also for automating the use of COSMIC as well as for rapidly and early applying the method through some approximations.