Systems (200, 230, 240) and methods (400) for event based execution of a Fieldbus process control strategy (FPCS) for simulation of an industrial process at least partially implemented by a Fieldbus system including a FIM (114, 116, 212, 214, 232, 234) and a field device (122, 124). The methods involve representing an implementation of the FPCS (702) as a Fieldbus data structure (FDS) comprising operational blocks (802, . . . , 818) representing operations of the FIM and a field device. The methods also involve creating a Link Active Schedule (LAS) using the FDS. The LAS (706) schedules software operations for simulating the field device operations. The methods further involve running simulation software installed on a computing device (222, 226, 232, 234, 242) for simulating the field device operations. The simulation software is configured for performing functional block executions of the software implementations identified and scheduled in the LAS.