Asset Manager is a standalone application; it is not cluster aware; instead it can be hosted on a platform that ensures high availability. Critical components in terms of availability are:
Asset Manager Database
Automated Process Manager
Web Services and Web Tier serves
Database should be considered first to be protected from single point of failure. Oracle has High Availability feature; I guess MS Sql server does not. However, it can be hosted on MS cluster; failover cluster supposed to be an optimum solution. The cluster itself should take care of the application; nothing need to be configured at the application level. The whitepaper “HP Asset Manager Asset Manager® 5.x High Availability Guidelines” gives you a direction. The document is available under doc\white_papers folder of Asset Manager installation directory, e.g. C:\Program Files\HP\Asset Manager 9.31 en\doc\white_papers.
The other two components can be hosted on standalone server with reliable hardware. The server hosting Web Services and Web Tier need to have better resources.
One more point: A physical server always gives better performance compared to a virtual one with same resources.