Parametric yield loss due to variability can be effectively reduced by both design-time optimization strategies and by adjusting circuit parameters to the realizations of variable parameters. The two levels of tuning operate within a single variability budget, and because their effectiveness depends on the magnitude and the spatial structure of variability their joint co-optimization is required. In this paper we develop a formal optimization algorithm for such co-optimization and link it to the control and measurement overhead via the formal notions of measurement and control complexity. We describe an optimization strategy that unifies design-time gate-level sizing and post-silicon adaptation using adaptive body bias at the chip level. The statistical formulation utilizes adjustable robust linear programming to derive the optimal policy for assigning body bias once the uncertain variables, such as gate length and threshold voltage, are known. Computational tractability is achieved b...