We study which algebras have tilting modules that are both generated and cogenerated by projective-injective modules. Crawley-Boevey and Sauter have shown that Auslander algebras have such tilting modules; and for algebras of global dimension $2$, Auslander algebras are classified by the existence of such tilting modules. In this paper, we show that the existence of such a tilting module is equivalent to the algebra having dominant dimension at least $2$, independent of its global dimension. In general such a tilting module is not necessarily cotilting. Here, we show that the algebras which have a tilting-cotilting module generated-cogenerated by projective-injective modules are precisely $1$-Auslander-Gorenstein algebras. When considering such a tilting module, without the assumption that it is cotilting, we study the global dimension of its endomorphism algebra, and discuss a connection with the Finitistic Dimension Conjecture. Furthermore, as special cases, we show that triangular matrix algebras obtained from Auslander algebras and certain injective modules, have such a tilting module. We also give a description of which Nakayama algebras have such a tilting module.

25 pages, modified the proof of Theorem 3.2.9; main results remain the same; comments are welcome