This research aims to develop time scheduling model including time cost trade off analysis, resource leveling and cash flow management during planning stage and project control during construction stage. To achieve research objectives, available options to improve project financing and current controlling techniques have been studied. The proposed model has been formulated using Excel program to combine CPM computations, time-cost trade off analysis, resource leveling, cash flow analysis and project control. The project management software (MS-Project) has been adopted to perform resource allocation and resource leveling to facilitate achieving the optimum solution in which the project can be performed with minimum cost, supposed deadline and within limited resources. The proposed model utilizes Solver built in Excel program to optimize interest charges or overdraft amount. This research reached the conclusion that it is possible obtain optimum solution performing time cost trade off analysis and resource leveling using Evolver program and then take the results of optimization process to perform cash flow optimization. The proposed model can measure deviations of actual progress from the baseline and monitor project progress to decide on proper corrective actions.Research results have been applied to a hypothetical case study and the application results come identical with research objective. Conclusions have been reached, recommendations regarding adopting and using the research results in construction planning and project management has been suggested.