This study reviews some of the existing works in production planning literature. Then, we propose an extended approach in which a Multi Period-Multi Product (MPMP) problem is converted into a project management network as an extension the MPMP modeling considering both network concepts and multi objective modeling. According to the literature review, there is no research found with two objective functions. However, in this study, two objective functions are proposed. The first one is to minimize the total cost which includes inventory holding, lost sale, network crashing and overhead costs and the second one is to minimize the time completion of the planning period. Then, by use of multi objective programming techniques the problem can be further solved. Also, the proposed approach simultaneously integrates both project management network and mathematical modeling techniques through a production planning context.