Formulating steady-state targets using prioritized objective functions

Computer system and methods for optimally controlling the behavior of an industrial process, in accordance with plant operating goals, without requiring a complicated trial and error process. The system and methods enable configuring optimization preference and optimization priority for key manipulated variables (MVs) of the industrial process. The system and methods translate the configured optimization preference and optimization priority for each key MV into prioritized economic objective functions. The system and methods calculate a set of normalized cost factors for use in a given prioritized economic functions based on a model gain matrix of manipulated variables and controlled variables of the industrial process. The system and methods automatically determine best achievable targets for the MVs by solving each prioritized economic objective functions in sequence of priority within the constraints of: (1) the determined CV best achievable steady-state targets, and (2) the determined MV best achievable steady-state targets from higher prioritized economic objective functions.