A fast Monte Carlo methodology for particulate processes is introduced. The proposed methodology combines concepts from discrete population balance equations and dynamic Monte Carlo simulations of chemical kinetics to construct a new jump Markov model that approximates the population balance dynamics. The Markov model consists of a definition of a new type of reaction channel, in which the reaction product is a stochastic process by itself. One feature of this model is that, although a coarse view of the process is taken, it still conserves the history of individual particles. This is a very important aspect for effective modeling of multivariate models, especially when part of the goal is to study the evolution of the internal states of the particles (i.e., composition, phase behavior, etc.). Numerical experiments show that this algorithm can improve the computational load of the exact method by orders of magnitude without sacrificing computational accuracy. The methodology is useful especially in stochastic optimization applications where many function calls (simulations) are required. Possible applications are optimization and dynamic optimization using an artificial chemical process algorithm, genetic algorithm, or simulated annealing among others. (C) 2007 Elsevier Ltd. All rights reserved.