In view of the instance that miscellaneous types of PMUs exist with different number of analog channels and function modules, an advanced PMU with more functions or channels normally costs more money than a simple PMU. In both economic and planning reasons, it is necessary to conduct a study in designing a PMU placement constrained by number of analog channels. In this study, both Integer Linear Programming method and Genetic Algorithm are implemented to optimize the PMU placement considering number of analog channels. The proposed methods are tested on IEEE-14 and IEEE-30 buses systems. Detailed placement strategies are presented for the test systems. In conclusion, a comparison and discussion of the usability of both methods are concluded.