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Smart grid technology is progressing worldwide. Various Countries are investing to transform their traditional power grid to Smart grid. They have started realigning their organization to support a Smart grid vision. At this initial stage some software models are required to quantifiably evaluate, monitor the progress and plan for the realization of a smart grid. At present some models like Smart Grid Interoperability Maturity Model, Smart Grid Investment Model, Smart Grid Maturity Model and Smart Grid Conceptual Model are available. Smart Grid Interoperability Maturity Model is used to measure the current status of automation in the areas like transmission, distribution and demand side resources. The Smart Grid Investment Model is used in calculating different smart grid investments, along with their strategies. Smart Grid Maturity model is used in planning of utilities in smart grid transformation; prioritize the tasks and measuring their progress at every stage. Smart Grid Conceptual Model is used to analyze different standards and interoperations of smart grid development. A new proposed Smart Grid Monitoring Model will help in understanding smart grid deployment and capability within electric utility companies.