In recent years, the placement of phasor measurement units (PMUs) in electric transmission systems has gained much attention. Engineers and mathematicians have developed a variety of algorithms to determine the best locations for PMU installation. But often these placement algorithms are not practical for real systems and do not cover the whole process. This thesis presents a strategy that is practical and addresses three important topics: system preparation, placement algorithm, and installation scheduling. To be practical, a PMU strategy should strive for full observability, work well within the heterogeneous nature of power system topology, and enable system planners to adapt the strategy to meet their unique needs and system configuration. Practical considerations for the three placement topics are discussed, and a specific strategy based on these considerations is developed and demonstrated on real transmission system models.