Multi-Chip Module (MCM) technologies offer a wide variety of design options for the integration of electronics. However, a number of optimization problems have been reported in literature [Hab04-931 for the production of such highly complex circuits. One of the most well known problems is the dependence of module yield on the availability of so called Known-Good-Dies (KGDs). Hence, uncertainties about the quality level of the unpackaged (bare) dies available to the MCM manufacturer pose a number of questions conceming test, rework and die handling strategies. The cost and goodness methodologies introduced in this paper facilitate a thorough analysis and optimization of different possible MCM production flows. Moreover, the results generated demonstrate the power of the approach introduced.