In every construction project, there are two most important factors to be considered in the planning of project i.e. time and cost. Time deals with speed, quality of work and availability of tools and materials whereas cost deals with optimization and availability of resource. The aim of this project is to complete the project within a given time and a budget, and also to achieve the other objectives. The constraints that are observed in every project is time overrun and cost overrun. As we can say it’s a most difficult task for a project managers to practice it, which includes fixed measuring progress, executions as per plan and corrective actions should be taken whenever required. Due to proper planning and scheduling, it gives us a knowledge of proper time and the process of cost mostly remains the same. Basically, cost optimization and allocation of resource directly deals with availability of tools and materials. With a proper sequence of activities with assigned durations and resource, scheduled is prepared. In this project critical path and critical activities are studied with the use of MS-Project 2016, so that activities should be properly observed while execution, so that there will be no delay of time in the project, and also, stay focused on the wastage of materials thus lead to the proper optimization of materials and reduction of cost.