In this paper we present two new solutions for design space exploration of parameterized systems. The approaches use multi-objective optimisation techniques based on the concept of Pareto-optimality to determine the power/performance trade-off front for a highly parameterized system-on-a-chip for digital camera applications. The approaches used are purely heuristic and a combination of heuristic approach with genetic algorithm-based approach. The results obtained demonstrate the effectiveness of the approaches in terms of both validity and efficiency, measured as the number of simulations run.