Disclosed are the methods for scheduling a task including at least one sub-task, on one or more computing devices in a distributed computing environment. A set of computing devices are identified from the one or more computing devices, based on an availability of a set of computational resources on the set of computing devices. Each computing device in the set of computing devices is ranked based on at least one of a monetary cost or a network cost, associated with the execution of the at least one sub-task on the each computing device. The at least one sub-task is allocated to at least one computing device from the set of computing devices for execution based on at least one of the ranking or an acceptable success probability associated with the execution of the at least one sub-task.