The objective of this work was to develop and demonstrate batch process optimization tools that can be deployed for use in a manufacturing environment. The work specifically addresses the lack of tangible real time performance measures for batch process operations in literature and industry. Such performance measures need to account for real time adherence to production schedule, capture the impact of unexpected events and measure the consequence of such performance on meeting product orders or desired inventory levels. This work combines real time plant data and the concept of an ‘Online Simulation’ to continuously estimate probable end states proceeding from the current time. Such a real time performance measure successfully captures deviation from expected performance and its impact on process deliverables. This aids real time decision making and process improvements for meeting productivity targets and maximizing economic value.