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Bridge scour is a leading cause of failure for bridges over waterways and is notoriously difficult to detect with accuracy. Dynamic Structural Health Monitoring (SHM) of bridges for scour has gained traction in recent years as monitoring systems have improved and the reliability of measurements increased. Due to the large number of bridges on typical networks and the limited financial resources within asset management agencies, decision-makers must prioritize certain structures when it comes to management in the event of flooding. The decision to install a dynamic SHM system on a bridge must be balanced by the financial benefit of doing so, as limited resources often need to be carefully rationed. In this paper, a methodology is proposed to evaluate such benefit based on the Value of Information (VoI) from Bayesian decision analysis. A case study is presented whereby a dynamic SHM system is considered to be installed on a typical bridge with the aim to support emergency management operations during flooding. The proposed methodology allows computation of the financial benefit of installing a dynamic SHM system over a certain reference period, thus accounting for multiple flood events and scenarios. The various elements of the procedure are discussed in detail. [ABSTRACT FROM AUTHOR]