A new theoretical formalism for optimal quantum control has been presented. The approach stems from the consideration of describing the time-dependent quantum systems in terms of the real physical observables, namely the probability density ρ(x,t) and the quantum current j(x,t) which is well documented in Bohm's hydrodynamical formulation of quantum mechanics. The approach has been applied for manipulating the vibrational motion of HBr in its ground electronic state under an external electric field.