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This is the second part in a two-part paper on the development of a power system dynamic security assessment system (DSA). In this part, the overall structure, function design and technology used of a DSA tool including TSA- transient stability assessment, VSA- voltage stability assessment is presented. The system is expected to be used in both on-line and off-line modes. In on-line mode, real-time SCADA/EMS data will be used with specific time interval; while in off-line mode (usually day-ahead calculation), historical data can be used for DSA. Both results involving TSA and VSA can be integrated and selected to compare with real time operation conditions and supervision power system operation security margin.