In order to integrate different severity indicators of the consequences, and fully reflect the intention of the dispatcher to avoid high-level electrical accidents during the whole process of dispatching, this paper proposes a whole process risk assessment method based on fuzzy accident level indicators. First, an accident severity evaluation index system of the whole process of dispatching is considered. Then, based on the classification standard of power accident level of the China Southern Power Grid, a fuzzy grading and quantification method of electric power accident grade index and a fuzzy probabilistic modeling strategy of equipment and switch operation faults is proposed. Finally, a technical process of the risk assessment that considers the whole process of dispatching operations is proposed. The practical example of Shenzhen Power Grid shows that the risk assessment method proposed in this paper can effectively quantify the risk in grid operation and dispatching switch operation, so as to clearly determine the practical value of the dispatching operation. This work is supported by the National Natural Science Foundation of China (No. 51707034) and the Science and Technology Project of China Southern Power Grid Co., Ltd. (No. 090000KK52160048).