Effective firefighting and evacuation are integral parts of emergency response plans in process plants, which play a key role in protecting human lives and assets in the event of major fires. Given sufficient firefighting resources, firefighters would suppress all the burning vessels and cool off all the exposed vessels in order to contain the fire and prevent a fire‐induced domino effect. However, when the number of critical units—whether on fire or exposed to fire—exceeds the firefighting resources, firefighters should decide how to optimally allocate the resources so as to best satisfy the safety goals. To facilitate such decisions, the present work aims to develop a methodology for effective firefighting under insufficient resources. The methodology seeks out two safety goals via optimal firefighting strategies: (1) providing for the safety of evacuees, and (2) reducing the risk of domino effects. Although both safety goals are attempted to be satisfied at the same time, a higher priority is assigned to the first goal as long as the evacuation is underway. When the evacuation is complete, all the resources are focused on the second goal. The study shows that a multi‐objective optimization approach to identifying firefighting plans outdoes single‐objective optimization approaches in that several safety goals could be met at once. Although only two safety goals are considered in the present study, the methodology is flexible enough to accommodate several goals such as safety of offsite people and assets.