A method, computer program product, and computing system are provided for receiving reservoir data associated with the reservoir. A simulation may be performed on the reservoir data to generate simulated reservoir data. A subset of realizations including a minimal number of realizations from a plurality of realizations may be determined based upon, at least in part, one or more statistical moments of the simulated reservoir data. An optimized reservoir model associated with an objective may be generated based upon, at least in part, the subset of realizations including the minimal number of realizations.