The hot fire test strategy for liquid rocket engines has always been a concern of space industry and agency alike because no recognized standard exists. Previous hot fire test plans focused on the verification of performance requirements but did not explicitly include reliability as a dimensioning variable. The stakeholders are, however, concerned about a hot fire test strategy that balances reliability, schedule, and affordability. A multiple criteria test planning model is presented that provides a framework to optimize the hot fire test strategy with respect to stakeholder concerns. The Staged Combustion Rocket Engine Demonstrator, a program of the European Space Agency, is used as example to provide the quantitative answer to the claim that a reduced thrust scale demonstrator is cost beneficial for a subsequent flight engine development. Scalability aspects of major subsystems are considered in the prior information definition inside the Bayesian framework. The model is also applied to assess the impact of an increase of the demonstrated reliability level on schedule and affordability.