Wide area measurement system (WAMS) usually contains three dependent infrastructures called management, measurement, and communication. For optimal operation of a power system, it is necessary to design these infrastructures suitably. In this paper, measurement and communication infrastructures in a wide area network are designed independently from a management viewpoint, considering an adequate level of system observability. In the first step, optimal placement of measurement devices is determined using an integer linear programming (ILP) solution methodology while taking into account zero-injection bus effects. In the next step, new dynamic multiobjective shortest path (MOSP) programming is presented for the optimal design of communication infrastructure. The best architecture design is introduced in terms of optical fiber power ground wire (OPGW) coverage for the suggested central control bus and the number of phasor measurement units (PMUs). The applicability of the proposed model is finally examined on several IEEE standard test systems. The simulation results show better performance of the proposed method compared with other conventional methods. The numerical results reveal that applying the proposed method could not only reduce the OPGW coverage cost, the number of PMUs, and the number of communication links but could also improve the system technical indexes such as latency as subsidiary results of the optimization process.