This paper describes research performed to augment the capabilities of the Statistical Modeling and Estimation of Reliability Functions for Systems (SMERFS^3) software suite. Enhancements to the Schneidewind software reliability model, which features optimal selection of failure data for predicting failure counts, were made to enable clearer interpretation of that model's results. These enhancements included the addition of risk assessment measures and modifications to the model's optimal point selection procedure. An analysis of an actual data set from a NASA Goddard Space Flight Center project that was used to validate these additions to SMERFS^3 is included.