Abstract: In order to comprehensively assess the risks of alternative dispatching schemes, a dynamic N-1 risk assessment technical framework considering whole process of dispatching operation is proposed. It not only considers the N-1 failure risk of stable operation of the target grid but also comprehensively considers the associated bus N-1 failure risk caused by switching operation failure. This paper proposes the probabilistic models which describe the risk of whole process of dispatching operation, the unified risk indicators and corresponding quantitative methods. The failure probability of switching operation is described by the state-transition matrix, and the coupling degree of related indicators is reduced by logarithmic synthesis method. The case study of Shenzhen power grid of China demonstrates the feasibility and effectiveness of the proposed method.