Abstract: Aiming at management optimization of a multistage development project and considering market prospect for a launch vehicle, a multistage GERT network model is established based on the process of rocket development. The project activity is described in graphical way, and extending the traditional analytic algorithm of GERT network by analyzing the interaction between time, cost and quality in the process of rocket development (TCQ). In view of the possibility of market prospect, a multistage optimization model of comprehensive prospect value is constructed by combining the multistage GERT network model and Prospect theory. Finally, taking a rocket development project as an example, the specific implementation steps of the method are described and the result shows that the optimization adjustment of TCQ in the rocket development project can bring greater prospect value to the project activities than before.