Extended paper for the 13th International Symposium on Process Systems Engineering. Process Systems Engineering: Academic and Industrial Perspectives Ignacio E. Grossmann a and Iiro Harjunkoski b a) Center for Advanced Process Decision-making (CAPD), Department of Chemical Engineering, Carnegie Mellon University, Pittsburgh, PA 15213, U.S.A. grossmann@cmu.edu b) ABB Corporate Research Center Germany, 68526 Ladenburg, Germany iiro.harjunkoski@de.abb.com Abstract In this paper, we present both academic and industrial perspectives on the research and applications of Process Systems Engineering (PSE). After a brief introduction on the history of PSE, we describe the major research accomplishments in the areas of process simulation, conceptual design and synthesis, process control, process operations and optimization. This is followed by a discussion on the industrial impact and benefits of this work, which have made it to be industrially relevant. Next, we address the issue of the current standing of PSE both in academia and in industry, and for which we present results of a survey conducted by the authors. Finally, we close with a discussion on future challenges in PSE from both the industrial and academic perspectives. Keywords: Process systems engineering, process simulation, process synthesis, process control, scheduling and planning, mathematical programming. 1. Introduction The field of process systems engineering (PSE) has been around in various forms for over 50 years mostly under the labels of process designs and process control. It was not until 1982 when the 1 st International Symposium on Process Systems Engineering took place in Kyoto, Japan, that the term Process Systems Engineering was adopted as the general term to be applied to the different areas such as process design, control and operations, including product design. The creation of Process Systems Engineering as a discipline can be traced back to two pioneering works. The first one is the article “Integrated Design and Optimization of Processes” published by Professor Roger Sargent in Chemical Engineering Progress (Vol. 63, Issue 9 , pp 71-78) in 1967. That article was truly visionary in that it outlined the areas of process design and integration with control and reliability, it addressed development of process models (steady state, dynamics), strategies of process calculations, and computational methods for optimization. Furthermore, the article advocated for collaborations with researchers in control systems, operations research, numerical analysis and computer science. This pioneering article outlined the future research agenda for the area of Process Systems Engineering. The second major pioneering work was the textbok “Strategy of Process Engineering“ by Professor Dale Rudd and his co-author Charles Watson, Wiley, 1968. The textbook had three major parts: a) creation and assessment of alternatives, b) optimization, c) engineering in the presence of uncertainty. The major contribution of this textbook was