An FOM (figure of merit) enabling evaluation from a cost aspect, as well as evaluation of electrical performance, is newly proposed to provide a method of manufacturing based on the FOM a semiconductor chip intended for a lower cost production in addition to satisfying electrical performance. An FOMC of a semiconductor chip is defined as the product of a term represented by electrical performance of a substrate S and a term represented by a semiconductor chip cost CC; the FOMC of each of the semiconductor chips on substrates SS, SC of different type is determined by calculation of the product thereof. Based on the magnitudes of the calculation results, a desired substrate is selected from the substrates SS, SC and then a semiconductor chip is fabricated by forming a semiconductor element on the desired substrate selected.