Reservoir operation decisions require constant reevaluation in the face of conflicting objectives, varying hydrologic conditions, and frequent operational policy changes. Optimality is a relative concept very much dependent on the circumstances under which a decision is made. More than anything else, reservoir management authorities need the means to assess the impacts of various operational options. It is their responsibility to define what is desirable after a thorough evaluation of the existing circumstances. This article presents a model designed to generate operational trade-offs common among reservoir systems. The model avoids an all-encompassing problem formulation and distinguishes three operational modes (levels) corresponding to normal, drought, and flood operations. Each level addresses only relevant system elements and uses a static and a dynamic control module to optimize turbine performance within each planning period and temporally. The model is used for planning the operation of the Savannah River System. ¿ American Geophysical Union 1993