1. A method of scheduling processing jobs on processing entities, the method comprising the steps of: receiving real-time reliability data associated with a processing entity; identifying a statistical reliability model that correlates processing entity failures to factors quantified by the received real-time reliability data; generating, with the identified statistical reliability model, a predicted future reliability of the processing entity based on at least some of the received real-time reliability data; generating a reliability score for the processing entity based on both the predicted future reliability of the processing entity and a prior reliability score for the processing entity; receiving a processing job for scheduling, the processing job having associated with it a minimum acceptable reliability score; and scheduling the received processing job on the processing entity only if the generated reliability score is greater than or equal to the minimum acceptable reliability score associated with the processing job.