An industrial system comprising: a control system configured to control operation of an industrial process by instructing an automation component to implement a manipulated variable setpoint, wherein the control system comprises: a process model configured to model operation of the industrial process by describing a relationship between manipulated variables and resulting controlled variables; control optimization circuitry configured to determine the manipulated variable setpoint based at least in part on the process model, a control objective function, and constraints on the industrial process, wherein determining the manipulated variable setpoint comprises determining the manipulated variable setpoint that minimizes the control objective function subject to the constraints, wherein the constraints limit the value of one or more manipulated variables, value of one or more controlled variables, rate of change of one or more manipulated variables and/or rate of change of one or more controlled variables, wherein the control objective function describes weighting of various aspects of the industrial process affected by the manipulated variables and/or controlled variables and comprises one or more tuning parameters configured to describe weighting between aspects of the industrial process affected by the manipulated variable setpoint including weighting between deviation of a controlled variable from a desired value, deviation of a manipulated variable from a desired value and rate of change of the manipulated variable; and tuning optimization circuitry configured to determine the one or more tuning parameters based at least in part on a tuning objective function, wherein the tuning objective function is determined based at least in part on a closed form solution to an augmented version of the control objective function, wherein the augmented version of the control objective function is formed by transforming the inequalities in the constraints to equalities to obtain soft constraints, wherein the closed form solution is obtained by minimizing the augmented objective function, and wherein the tuning objective function is obtained by substituting the closed form solution into the control objective function and the one or more tuning parameters are determined based on a minimization of the tuning objective function. a process model configured to model operation of the industrial process by describing a relationship between manipulated variables and resulting controlled variables; control optimization circuitry configured to determine the manipulated variable setpoint based at least in part on the process model, a control objective function, and constraints on the industrial process, wherein determining the manipulated variable setpoint comprises determining the manipulated variable setpoint that minimizes the control objective function subject to the constraints, wherein the constraints limit the value of one or more manipulated variables, value of one or more controlled variables, rate of change of one or more manipulated variables and/or rate of change of one or more controlled variables, wherein the control objective function describes weighting of various aspects of the industrial process affected by the manipulated variables and/or controlled variables and comprises one or more tuning parameters configured to describe weighting between aspects of the industrial process affected by the manipulated variable setpoint including weighting between deviation of a controlled variable from a desired value, deviation of a manipulated variable from a desired value and rate of change of the manipulated variable; and tuning optimization circuitry configured to determine the one or more tuning parameters based at least in part on a tuning objective function, wherein the tuning objective function is determined based at least in part on a closed form solution to an augmented version of the control objective function, wherein the augmented version of the control objective function is formed by transforming the inequalities in the constraints to equalities to obtain soft constraints, wherein the closed form solution is obtained by minimizing the augmented objective function, and wherein the tuning objective function is obtained by substituting the closed form solution into the control objective function and the one or more tuning parameters are determined based on a minimization of the tuning objective function.