A control system is provided to optimize a compressor that has a variable guide vane position and a variable speed set point. One or more controllers receive a process set point for a main process variable for a first performance control application and a deviation set point for a surge deviation level for a second performance control application. The first performance control application operates a first independent primary control loop to control the main process variable at the process set point by manipulating the variable guide vane position. The second performance control application operates a second independent primary control loop to control a surge deviation level at the deviation set point by manipulating the variable speed set point. The second performance control application also executes a limit control loop to limit the main process variable at a limit set point by manipulating the variable speed set point.