The present application describes a method and modeling system for managing and modeling well completions. The method includes constructing a wellbore model of a completion. Then, the wellbore model may be applied to generate one or more simulated production profiles, wherein the simulated production profiles include two or more of pressures associated to depth, temperatures associated to depth, flow rates associated to depth, fluid flow velocities associated to depth, and any combination thereof. The completion and one or more sensors may be disposed into a well. Sensory data may be acquired or obtained from the sensors associated with the completion. The sensory data is examined to determine if production conditions have changed. If the production conditions have changed, one or more measured production profiles are generated from the sensory data and are compared to the at least one simulated production profile to determine a modification to the completion. Then, the completion is modified based of the determination. However, if the production conditions have not changed, well operations continue.