It has been well identified that the extreme events significantly impact the system operation. In this work, a comprehensive operating strategy, which coordinates the preventive strategies and system restoration, was proposed. A re-dispatch model that limits the potential loss under extreme events, as well as provides adequate resources for system restoration after the extreme events, was proposed. An optimal power flow based method was established to solve the proposed model. The availabilities of components and the remaining system due to the extreme events were restored by extending the EPRI’s System Restoration Navigator (SRN) with a little modification. Case studies demonstrate the proposed model and methods.