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It is important for engineering firms to be able to develop forecasts of recommended courses of action based on available information. In particular, engineering firms must be able to assess the benefit of performing information-gathering actions. For example, an automobile manufacturer may use a computer simulation of a hydraulic motor and pump in the design of a new vehicle. The model may contain random variables that can be more accurately determined through expensive information-gathering actions, e.g., physical experiments, surveys, etc. To decide whether to perform these information-gathering actions, the automobile manufacturer must be able to quantify the expected value to the firm of conducting them. However, the cost of computing the expected value of information (through optimization, Monte Carlo sampling, etc.) grows exponentially with the amount of information that is to be gathered and can often exceed the cost of actually gathering the information.