This paper investigates the best practices and lessons learned for both the development and calibration methods of integrated production models. Consequently, this allowed for the successful application of Integrated Production Modeling (IPM) to large scale and complex petroleum production systems in the Cooper Basin, Australia. The potential for calibrated integrated production models to aid the assessment of production system development, forecasting, operational surveillance and optimization opportunities (flow assurance, integrity considerations, well performance/intervention, incremental approaches to development and back out/pressures) supported the need for an optimum (quality versus resource allocated) and innovative development procedure. A structured workflow for developing and calibrating the integrated production models is presented which allows for an improved ability to create and operate such models. The key development components, and for which illustrative and detailed workflows are presented, are: (1) development of reservoir model, (2) development of required well models, (3) development of required surface facility model and (4) the overall calibration of the integrated production model. Detailed within this paper is the extensive theoretical analysis which was mandatory in determining the use of the most suitable parameters which included vertical lift performance (VLP) correlations, flowline correlations, relative permeability curves (generation and alternatives), inflow performance relationship (IPR), water influx models, micro-string implications and all related considerations and assumptions. The paper emphasizes the trade-off between the required outputs from the application of the integrated production models and the available resources and period of development. The value of information is also highlighted through the importance of data collection and preparation procedures, both technical (pressure and fluid) and organizational (procedures). Furthermore, engineering decisions were found to significantly dictate the accuracy and efficiency of the implemented development process and workflows, in particular related to average reservoir properties, cyclic well behavior and the history matching of system pressures and flow rates within the calibration process. The considerations have been supported by relevant examples throughout the paper.