Power grid?s traditional security assessment approach ? based on SCADA data and off-line studies conducted long in advance of real time operations ? are becoming increasingly problematic for real time operations because they cannot fully anticipate all the conditions faced by operators. New technologies that rely on accurate, high-resolution, real-time monitoring of actual (not hypothesized) system conditions using synchronized measurement technologies are needed to support the real-time operations. The purpose of these tools and systems is to monitor, assess, enable, and ultimately, automatically take the necessary control action to prevent or mitigate problems in real time. The proposed applications of synchronized measurements for power grids will provide the realtime operating staff with previously unavailable yet greatly needed tools to avoid grid instabilities, and to monitor generator?s response to abnormal excursions in system frequency. The objective of this paper is to point out benefits of using synchronized measurements for selected realtime applications, to summarize ongoing projects and experience worldwide, and emphasize the need for a practical roadmap toward greater deployment of the technology.