Regulating downhole fluid flow rate using an multi-segmented fluid circulation system model

A method for regulating a downhole fluid flow rate, in at least some embodiments, comprises partitioning a fluid circulation system into a sequence of segments, the sequence including a pump segment at one end and a drill bit segment at another end; obtaining a desired pressure for the drill bit segment; determining, for each of the segments in the sequence except for the drill bit segment, a desired pressure based at least in part on the desired pressure for a preceding segment in the sequence; determining a pump setting based on the desired pressure for the pump segment; and applying the pump setting to a pump used to move drilling fluid through the fluid circulation system.