This paper presents results of detailed nonlinear finite element analysis of gasketed bolted flange pipe joints of different sizes (1, 4, 5, 6, 8, 10, 20 in.) of 900# pressure class for achieving proper preload close to the target stress values with and without considering yielding at bolt and flange and gasket crushing recommended by ASME and industrial guidelines for optimized performance using customized optimization algorithm. In addition, two strategies torque control method and stretch control method are used which is a normal practice in the industry.