1. A computer-implemented method for using a prediction of failure of an electronic device during design of the device, the method comprising: receiving data associated with a metallic component in the device, the data including data indicative of a response of the component to a specific load on the component while the device is in operation; and calculating a prediction indicative of a potential failure of the device using a probabilistic model of failure of the component, wherein the probabilistic model is based on at least the specific load, and a microstructure-based failure model and the data, and wherein the probabilistic model utilizes at least one of fast probability methods and simulation techniques, and wherein the microstructure-based failure model represents heterogeneous microstructures in the component, and includes one or more of a crack nucleation model and a short crack growth model.