It is an inescapable truth that no matter how well a system is designed it will degrade, and if degrading parts are not repaired or replaced the system will fail. Avoiding the expense and safety risks associated with system failures is certainly a top priority in many systems; however, there is also a strong motivation not to be overly cautious in the design and maintenance of systems, due to the expense of maintenance and the undesirable sacrifices in performance and cost effectiveness incurred when systems are over designed for safety. This paper describes an analytical process that starts with the derivation of an expression to evaluate the desirability of future control outcomes, and eventually produces control routines that use uncertain prognostic information to optimize derived risk metrics. A case study on the design of fault-adaptive control for a skid-steered robot will illustrate some of the fundamental challenges of prognostics-based control design.