One of the most promising methods for manufacture of axially symmetric parts such as disks or hollow shafts of gas turbine engines is local deformation using cold rolling. Physical and mathematical modeling can be quite effective for designing this class of equipment and process operations. This article presents the methodology and results of physical and mathematical finite element modeling of local deformation of parts such as a tapered cylinder fabricated from chromium steel alloy grade 11H11N2V2МF-Sh. Chemical elements in the alloy are designated by the letters which stand for: H -Chromium, N -Nickel, V -tungsten, M -molybdenum, F -vanadium, Sh -electroslag remelting. According to GOST 5632-72 (Russian standard), this type of nickel-chromium alloy consists of about 11 % of chromium, 1.5-2 % of tungsten and nickel, up to 1 % of molybdenum and vanadium, and 0.11 % of carbon, hundredths of one percent of phosphorus and sulfur. It is heat-resistant high-grade steel, which is used for the manufacture of parts operating unloaded at 900-1000 °C. The purpose of the paper is to analyze the process energy-power parameters and possible fracture of parts during deformation.