A heterogeneous system can be portrayed as a variety of unlike resources that can be locally or geologically spread, which is exploited to implement data-intensive and computationally intensive applications. The competence of implementing the scientific workflow applications on heterogeneous systems is determined by the approaches utilized to allocate the tasks to the proper resources. Cost and time necessity are evolving as different vital concerns of cloud computing environments such as data centers. In the area of scientific workflows, the difficulties of increased cost and time are highly challenging, as they elicit rigorous computational tasks over the communication network. For example, it was discovered that the time to execute a task in an unsuited resource consumes more cost and time in the cloud data centers. In this paper, a new cost- and time-efficient planning algorithm for scientific workflow scheduling has been proposed for heterogeneous systems in the cloud based upon the Predict Optimistic Time and Cost (POTC). The proposed algorithm computes the rank based not only on the completion time of the current task but also on the successor node in the critical path. Under a tight deadline, the running time of the workflow and the transfer cost are reduced by using this technique. The proposed approach is evaluated using true cases of data-exhaustive workflows compared with other algorithms from written works. The test result shows that our proposed method can remarkably decrease the cost and time of the experimented workflows while ensuring a better mapping of the task to the resource. In terms of makespan, speedup, and efficiency, the proposed algorithm surpasses the current existing algorithms—such as Endpoint communication contention-aware List Scheduling Heuristic (ELSH)), Predict Earliest Finish Time (PEFT), Budget-and Deadline-constrained heuristic-based upon HEFT (BDHEFT), Minimal Optimistic Processing Time (MOPT) and Predict Earlier Finish Time (PEFT)—while holding the same time complexity.