Structural health monitoring (SHM) allows the acquisition of information on the structural integrity of any mechanical system by processing data, measured through a set of sensors, in order to estimate relevant mechanical parameters and indicators of performance. Herein we present a method to perform the cost–benefit optimization of a sensor network by defining the density, type, and positioning of the sensors to be deployed. The effectiveness (benefit) of an SHM system may be quantified by means of information theory, namely through the expected Shannon information gain provided by the measured data, which allows the inherent uncertainties of the experimental process (i.e., those associated with the prediction error and the parameters to b...