Parameter estimation of reaction kinetics from spectroscopic data remains an important and challenging problem. This study describes a unified framework to address this challenge. The presented framework is based on maximum likelihood principles, nonlinear optimization techniques, and the use of collocation methods to solve the differential equations involved. To solve the overall parameter estimation problem, we first develop an iterative optimization-based procedure to estimate the variances of the noise in system variables (eg, concentrations) and spectral measurements. Once these variances are estimated, we then determine the concentration profiles and kinetic parameters simultaneously. From the properties of the nonlinear programming solver and solution sensitivity, we also obtain the covariance matrix and standard deviations for the estimated kinetic parameters. Our proposed approach is demonstrated on 7 case studies that include simulated data as well as actual experimental data. Moreover, our numerical results compare well with the multivariate curve resolution alternating least squares approach.