How to setup a cron job in Magento module?

Question

I wanted to setup a cron job inside my module. I followed the instructions on Magento wiki - how_to_setup_a_cron_job, but my cron job is simply not executing.

This i

Answer 1

 
        
            
                
                    */5 * * * *
                
                
                    ModuleName/observer::setStatus
                
            
        
    

and create Observer.php file in Model with

    class CompanyName_ModuleName_Model_Observer extends Mage_Core_Model_Abstract
{

   public function setStatus()
   { 

   }
}