The paper aims to discuss the Performance Evaluation of STATCOM integrated with 118 – IEEE Test System and the Integrated Design Architecture for Efficient Management of Power System. Modern day Power System is constituted of Electrical components integrated with electronic devices and automated with Software. The components hardware and functionality is complex. To support the enhancement of the Life Cycle activities both the physical and the abstract components are modularized. The paper discusses the Key concepts of modularization, and the Life Cycle Stages. Taxonomy of Power Systems is presented. The paper presents the implementation of a modular FACTS device - STATCOM in 118Bus IEEE Test System and the results analyzed
