Optimization and analysis of systems through modelling are practices common to many engineering and scientific problem solving tasks. These techniques can be used to enhance productivity and understand and design systems better. Although they are routinely used in academia and industries abroad, such practices are yet to be popular in Indian industries and academics. This workshop proceedings presents a number of state-of-the-art papers written by experts (both from academia and industries) in the field of optimization and systems analysis from USA and India. The papers involve theoretical treatise, classical optimization methodologies, evolutionary optimization procedures and application issues. The application domains include engineering design of systems, components and processes, bioinformatics, finance, and resource allocation problems. Anyone interested in understanding, using and researching in the area of optimization will find this proceedings useful.