New process development of forging component requires in-depth knowledge and experience related to the process. Also it requires number of physical trials to arrive at optimum process and initial billet dimensions. With the help of reliable computer simulation tool, it is possible to optimize the complete forging process and billet dimensions. Simulation provides much more insight about the process and possible forging defects. This saves considerable time and money.This paper describes about a complete forging process designed for a complex component. With the help of metal forming simulation software, complete forging process was simulated and optimized. Forging defects were removed during optimization of the process. Billet weight optimization was also carried out. Deciding the preforming shape of the billet was the main challenge. An innovative pre-forging shape was arrived which resulted in eliminating one process stage. The entire forging process was optimized in such a way to maintain required grain flow and complete filling of cavity with maximum yield.Initial billet to final component weight ratio obtained was 0.87. The position of billet was optimized in such a way that it gives minimum wastage of material in flash. The optimized process was implemented and simulation results were validated with actual trials. Simulation results found in good correlations with manufactured sample.