Abstract: System and methods for optimizing parameters for drilling operations are provided. A target value of a user-selected operating variable is estimated for each stage of a drilling operation to be performed along a planned well path, based on a first set of wellsite data. Values of one or more drilling parameters are determined for performing each stage of the operation, based on the estimated target value of the operating variable for that stage. The target value of the operating variable is updated based on a second set of wellsite data obtained during a current stage of the operation. The values of the drilling parameters are optimized for subsequent stages of the drilling operation based on the updated target value. The planned path of the well is adjusted for the subsequent stages, based on the optimized drilling parameter values. The subsequent stages are performed along the adjusted path of the well.