A computer implemented method for generating a storage policy for a storage system based on simulation results associated with a state of the storage system is provided. The method comprises receiving a target function applicable to a storage system, wherein the target function represents a measure of values associated with storage parameters related to productivity and loss tolerance of the storage system; wherein the simulation results for a state of the storage system are calculated based on a least one of (a) the storage system simulated response to a set of simulated file-related storage operation requests generated based on one or more simulation rules, (b) the state of the storage system before responding to the set of simulated file-related storage operation requests, (c) the storage system target function; and (d) rules for simulating file-related storage operation requests.