If cronjob starts every 5 minutes, try this configuration:
Generate Schedules Every 5
(enter cronjob runtime here, in this case 5 minutes)
Schedule Ahead for 125
(based on cronjob execution time plus the maximum time it takes for one task. For example: creating a sitemap is 120 minutes, then enter 120 minutes + 5 = 125 minutes)
Missed if Not Run Within 180
(runtime of the longest process, for example: import takes 120 minutes, then enter 120 minutes + 60 minutes - because sometimes there is a difference between mysql and server time)
History Cleanup Every 10
(minimum runtime cronjob = 5 * 2 = 10 minutes in this case)
Success History Lifetime 1440
(cronjob storage duration to prove that everything is working fine. 1440 = 24 hours)
Failure History Lifetime 1440
(cronjob storage duration, to confirm if there is an error. 1440 = 24 hours)
Last but not least, install the AOE-Scheduler to visually control your cronjob.
http://www.magentocommerce.com/magento-connect/aoe-scheduler.html
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