This article discusses how to efficiently and completely solve a bi-objective pavement maintenance and rehabilitation-scheduling problem, which aims at optimizing two objectives of pavement condition improvement and budget utilization in a simultaneous manner. This problem may be addressed by the weighting method, constraint method, ranking method, and various metaheuristic methods. However, none of these methods can guarantee the complete Pareto-optimal solution set, which would potentially lead to suboptimal decisions. In this article, a parametric method is suggested to solve the bi-objective pavement maintenance and rehabilitation-scheduling problem. The effectiveness and efficiency of the parametric method is investigated and demonstrated through a case study using the real-world data set from the Dallas District's Pavement Management Information System. A performance comparison between the widely used weighting method and the parametric method clearly justifies the computational advantages of the parametric method.