The advent of aordable computing, low-cost sensor hardware, and highspeed and reliable communications have spurred ubiquitous installation of sensors in complex engineered systems. However, ensuring reliable data quality remains a challenge. Exploitation of redundancy among sensor signals can help improving the precision of measured variables, detecting the presence of gross errors, and identifying faulty sensors. The cost of sensor ownership, maintenance eorts in particular, can still be cost-prohibitive however. Maximizing the ability to assess and control data quality while minimizing the cost of ownership thus requires a careful sensor placement. To solve this challenge, we develop a generally applicable method to solve the multi-objective sensor placement problem in systems governed by linear and bilinear balance