An embodiment of a method of evaluating costs and/or benefits of possible configurations of a manufactured product (e.g., an integrated circuit, an electronic system, etc.) includes establishing an upgrade cost and a redesign cost for each characteristic within a set of characteristics associated with the product configuration. The upgrade cost is the cost to upgrade the characteristic in a manner commensurate with other upgraded characteristics, while the redesign cost is the cost to redesign the product to accommodate the characteristic if it is not upgraded commensurately. A predicted total cost and a predicted benefit for a configuration may also be computed. In addition, the total cost for the corresponding configuration may be subtracted from such a benefit to determine a net benefit for the configuration. The method may be implemented using a computer-based system including upgrade cost data and redesign cost data.