An active vibration damping system with the use of piezoelements fixed to the structure is presented in the paper. The optimal location of the piezo-stripes on the structure is calculated for given cost functions. Coefficient correlations between control forces, strains, mode shapes, frequency changes, modal masses and modal stiffness are analyzed in order to find simpler method for calculation of the quasi-optimal localization of piezo-sensors and piezo-actuators. Reduced model of the open-loop system was identified and the simulations were carried out in order to find the best controller to reduce the amplitude of vibrations. The correctness of the selection of the controller was verified and investigated experimentally.