An integrated circuit (IC) including a controller integrally formed on a shared die with the IC and method of operating the same to compensate for process and environmental variations in the IC are provided. In one embodiment the IC is comprised of device and sub-circuits, and the method includes: receiving in the IC electrical power and information on at least one of one or more operational parameters of the IC; and adjusting one or more operating characteristics of at least one of the devices and sub-circuits in the IC based on the received information using a controller integrally formed on a shared die with the IC. Other embodiments are also disclosed.