Project planning is the important task in many areas like construction, resource allocation and many. A sequence of activities has to be performed to complete one task. Each activity has its unique processing time and all together to identify the critical activities which affect the completion of the project. In this paper the probabilistic and deterministic models to determine the project completion time and also the critical activities are considered. A case study on building construction project has been performed to demonstrate the application of the above said models. The two project scheduling namely PERT and CPM are used to determine numerically the different types of floating times of each activity and hence determined the critical path which plays an important role in the project completion time. Also a linear programing model has been developed to reduce the project completion time which optimize the resource allocation. To apply these techniques numerically the primary data from a housing project company in a metropolitan city has been taken, the network diagram of the activities involved in the building construction project has been drawn and the results are tabulated