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The book introduces reliability and risk assessment techniques for the successful operation of interconnected power system grids. The focus is on control [C] and reliability [R] factors. C-factors emphasize on key performance indicators [KPIs] as qualitative performance and risk measures of control area fulfilling its own commitments, and helping other areas of interconnection through the interface of turbine governor control [TGC], automatic generation control [AGC] and economic dispatch calculation [EDC]. In contrast, R-factors introduce key reliability indices [KRIs] as quantitative performance and risk measures ensuring power system reliability and security. Also, discussed is a micro-grid operation with solar energy backup towards enhanced grid reliability with security.