The outline of this paper is to implement real-time analysis and security monitoring in the smart power system. Security is the ability of the power system to withstand contingencies. The principal role of Wide Area Monitoring, Protection and Control (WAMPAC) system is to maintain a secure system state, i.e. the system that can withstand each specified contingency. The advanced WAM system uses real-time measurements to monitor system status and hence determines whether or not it is secure. The WAMPAC system is used to deploy proper control actions on load, transmission and generation in a wide time frame from fast protection systems to slower control of generators. This paper also explores the challenges and opportunities to implement online system analysis capability in order to monitor system security and stability indices. Therefore, the implemented hardware/software setup for monitoring and analyzing system in real-time format will be presented by the online results available with real-time software. Online load flow and contingency results aim to proper security monitoring of power system in wide area which is useful for most application such as system remedial actions.