A method includes executing a first function block configured to (i) receive multiple input data values associated with an industrial process control and automation system, (ii) pre-process the input data values, and (iii) store the pre-processed input data values in a shared memory. The method also includes executing a second function block configured to (i) receive references to the pre-processed input data values in the shared memory, (ii) invoke execution of one or more core functions to implement a process control algorithm, and (iii) store output data values in the shared memory. The method further includes executing a third function block configured to (i) receive references to the output data values in the shared memory, (ii) post-process the output data values, and (iii) output multiple output signals containing the post-processed output data values.