Title: Closed-Loop Optimization in the Process Industries

For many decades, the process industries have made extensive use of optimization technology in designing equipment and in analyzing plant operations. The use of economic optimization for rapid evaluation of plant operations has been envisaged for decades, but it has only become practical in recent years. This presentation will introduce the opportunities and challenges in the real-time optimization of plant operations. Special attention will be paid to issues of closed-loop performance. Shortcoming in current practice has lead to research in the design and implement of these optimization systems. Recent research results will be presented along with some musings on the future.