Meridium Asset Strategy Optimization (ASO) extends the qualitative risk/cost analytical capabilities of Asset Strategy Management through advanced, quantitative strategy modeling and simulation for assets and systems, resulting in optimized availability and reliability. Meridium ASO optimization routines can help analysts determine the best approach to performing maintenance, inspection or redesign activities. Using ASO, analysts can simulate failure models and asset strategies for multiple scenarios in order to identify the most optimum asset performance management policies.