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Determining the validity of the design space early in the conceptualization of a project can make the difference between project success and failure. Early assessment of technical feasibility, project risk, technical readiness and realistic performance expectations based on models with different levels of fidelity, uncertainty, and technical robustness is a challenging mission critical task for large procurement projects. Tradespace exploration uses model-based engineering analysis, design exploration methods, and multi-objective optimization techniques to enable project stakeholders to make informed decisions and tradeoffs concerning the scope, schedule, budget, performance and risk profile of a project. As the intersection with a number of project stakeholders, tradespace studies can provide a significant impact upon the direction and decision-making in a project.