In this work we introduce several novel tools for the reduction of errors in parameters estimated with electrochemical impedance spectroscopy experiments. An optimization strategy is developed that minimizes an estimate of the errors on the parameters while bounding the experimental time. The approach is also used to reduce experimental time while keeping a bound on the parameter errors. This feature is particularly critical in systems changing significantly within the experimental time. The paper uses a fuel cell electrode model to test this methodology and presents a real time algorithm for coupling experiment with the parameter estimation and experimental optimization.