The frequency of extreme events (e.g., hurricanes, earthquakes, and floods) and man-made attacks (cyber and physical attacks) has increased dramatically in recent years. These events have severely impacted power systems ranging from long outage times to major equipment (e.g., substations, transmission lines, and power plants) destructions. This calls for developing control and operation methods and planning strategies to improve grid resilience against such events. The first step toward this goal is to develop resilience metrics and evaluation methods to compare planning and operation alternatives and to provide techno-economic justifications for resilience enhancement. Although several power system resilience definitions, metrics, and evaluation methods have been proposed in the literature, they have not been universally accepted or standardized. This paper provides a comprehensive and critical review of current practices of power system resilience metrics and evaluation methods and discusses future directions and recommendations to contribute to the development of universally accepted and standardized definitions, metrics, evaluation methods, and enhancement strategies. This paper thoroughly examines the consensus on the power system resilience concept provided by different organizations and scholars and existing and currently practiced resilience enhancement methods. Research gaps, associated challenges, and potential solutions to existing limitations are also provided.
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