1. A computerized method for adjusting control parameters of a traffic management system in a presence of one or more incidents on a network, said method comprising: representing, using a tree format, a prioritization across network junctions, as executed by a processor on a computer; associating weights with each junction as a function of its height in the tree; and solving a real-time optimization of control parameters for the network, using the weights on the junctions, wherein, upon an occurrence of an incident in the network and depending upon a severity level of the incident, an incident-affected junction is selectively elevated higher in the tree, and the reallocated junction weights resulting from the incident are used for solving the optimization of network control parameters, and wherein the real-time optimization comprises exercising a traffic model comprising a macroscopic fluid flow model, describing flow of traffic on links in said network, and a junction model, describing how traffic on an incoming link to a node of said network is propagated to outgoing links of said node.