1. A computerized method for determining a reliability of a composite service having a plurality of service components, where the composite service is capable of failing only where underlying physical resources by which the composite service is effectuated fail, the method comprising: where the composite service is represented as a plurality of continuous-time Markov chains (CTMC's), each CTMC corresponding to one of the underlying physical resources, constructing a product of the CTMC's, the product encompassing a plurality of states of the composite service; determining a plurality of steady-state probabilities for the product of the CTMC's, each steady-state probability corresponding to a likelihood that a corresponding state of the composite service will be a steady state of the composite service; for each state of the composite service, determining a reward structure of the state of the composite service, the reward structure corresponding to a likelihood that the state will successfully use the underlying physical resources without failure, wherein the reward structure is determined for a given state of the composite service based on the steady-state probability corresponding to the given state and based on a plurality of discrete-time Markov chains (DTMC's), each DTMC corresponding to one of the service components of the composite service; determining the reliability of the composite service based on the reward structure of each state of the composite service; and, outputting the reliability of the composite service as determined.