Over the past decades, aggressive voltage scaling combined with increased power demands has placed stringent requirements on on-chip power quality. Unwanted voltage fluctuations and droops may cause a variety of issues, ranging from glitch power to device malfunction. If revealed at the later stages of the design process, mitigation techniques may become unbearably costly in both time and money. A framework for exploratory power delivery optimization is described to enhance the power delivery network during early stages of the design process in accordance with design specifications. The power delivery design process is converted into a constrained minimization problem, consisting of design metrics combined into objective and constraint functions. The framework supports the optimization of the power network characteristics while considering external, non-electrical design specifications, such as cost and area, providing a comprehensive network analysis capability. In one case study, a 15% reduction in decoupling capacitor placement along with a 38.6% reduction in power consumption is achieved while satisfying performance and power quality constraints.