1. A method for multi-objective fault accommodation using predictive: modeling, the method comprising: using a simulated machine that simulates a faulted actual machine; using a simulated controller that simulates an actual controller, the simulated machine being controlled by the simulated controller, and the actual machine being controlled by the actual controller; performing a multi-objective optimization process, based on specified control settings for the simulated controller and specified operational scenarios for the simulated machine controlled by the simulated controller, to generate a Pareto frontier-based solution space relating performance of the simulated machine to settings of the simulated controller, including adjustment to the operational scenarios to represent a fault condition of the simulated machine; and adjusting control settings of the actual controller, represented by the simulated controller, for controlling the actual machine, represented by the simulated machine, in response to a fault condition of the actual machine, based on the Pareto frontier-based solution space, to maximize desirable operational conditions and minimize undesirable operational conditions while operating the actual machine in a region of the solution space defined by the Pareto frontier.