Sustainable management of forest resources requires smart integration of various forest values into forest management plans both to control forest ecosystems and to satisfy the needs and expectations of stakeholders. This research initiative aimed to integrate water, carbon and timber values into a forest management plan and explain their effects on forest dynamics. Alternative management strategies with a mix of management objectives maximizing the amount or NPV (Net Present Value) of timber, carbon and water production along with constraints such as area, volume control and ending inventory were developed. A linear programming model with a planning horizon of 100 years and periods of 10 years was developed. Model outputs as NPV and amounts of timber, water and carbon were used as performance indicators to discuss forest dynamics under various management strategies. The results showed that water NPV aimed strategies (*W) provided the minimum timber production and the maximum water production level. Besides, even though timber NPV aimed strategies (*T) generated maximum NPV of timber as expected, surprisingly maximum timber and carbon production were provided by carbon NPV aimed strategies (*C) due mainly to afforestation of large forest openings in the case study area. The results indicated that the performance of a management strategy depends highly on the contents of a strategy as well as the initial forest structure aside from the growth rate.