no time-out is set at CRON job.

but the openerp-server has a time-out.  

1. If time-out needs to be increased, you need to configure openerp-server parameters.

These are the basic options available at OpenERP.

  Multiprocessing options:
    --workers=WORKERS   Specify the number of workers, 0 disable prefork mode.
    --limit-memory-soft=LIMIT_MEMORY_SOFT
                        Maximum allowed virtual memory per worker, when
                        reached the worker be reset after the current request
                        (default 671088640 aka 640MB).
    --limit-memory-hard=LIMIT_MEMORY_HARD
                        Maximum allowed virtual memory per worker, when
                        reached, any memory allocation will fail (default
                        805306368 aka 768MB).
    --limit-time-cpu=LIMIT_TIME_CPU
                        Maximum allowed CPU time per request (default 60).
    --limit-time-real=LIMIT_TIME_REAL
                        Maximum allowed Real time per request (default 120).
    --limit-request=LIMIT_REQUEST
                        Maximum number of request to be processed per worker
                        (default 8192).

2. After every update of record, if it is successful. force the cursor to commit

try:
     YOUR CODE
except Exception as e:
      Handle exception if needed
cr.commit()

By doing this, you could avoid processing the same records if the CRON job is killed due to TIME-OUT.

You can also use threading concept to override this issue

snapshot

import threading

def process_record(self):
    with api.Environment.manage():
        new_cr = self.pool.cursor()
        self = self.with_env(self.env(cr=new_cr))

  	​	​//your logic code

        new_cr.commit()
        new_cr.close()

def threading_method(self):
    threaded_calculation = threading.Thread(target=self.process_record, args=())
    threaded_calculation.start()
    return True

In above method I have pass method name in threading to override cron task timeout issue

Very googd. 

I solved my problem with the following values:

--limit-time-cpu=150
--limit-time-real=250

Thanks.