1. An electronic design automation tool for optimizing a placement of process monitors in an integrated circuit, comprising: a critical path/cell identifier configured to identify critical paths and critical cells in said integrated circuit; a candidate process monitor position identifier coupled to said critical path/cell identifier and configured to identify a set of candidate positions for said process monitors; a cluster generator coupled to said critical path/cell identifier and configured to associate said critical cells to form clusters thereof; and a process monitor placement optimizer coupled to said candidate process monitor position identifier and said cluster generator and configured to place a process monitor within each of said clusters by selecting among said candidate positions.