This paper presents an integrated approach to simultaneous optimisation of machining parameters, including machining speed, feedrate and depth of cut, number of passes, tool adjustment interval, and the amount of adjustment. Associated models have been developed for both small parts, where each tool can be used to machine several parts, and large parts, where several tools may be required for a single workpiece. Examples are given to demonstrate the application of the proposed models. The impact of machining parameters and tool cost on tool adjustment and the effect of rapid reverse on the final solution are also discussed.