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Smart grid is the next generation power grid development trend. Discuss the smart grid risk assessment system and risk control measurement using the latest self-healing concept in smart grid is of great importance. The paper first reviews the traditional power grid risk assessment development course, then analyzes and compares the differences of risk assessment process between smart grid and traditional power grid. The differences includes much system uncertainty due to renewable resources involvement, more surge between micro grid and the main power grid, and more customer joint into the risk assessment process as the work is set to be highly concerned issue about the utility and infrastructure energy security as well as national security. The future work on risk assessment of smart grid is very complex system work. As the initial stage of smart grid, there is still much more work remains to be carried out in the future.