In light of the current status of outage schedule based mostly on experience， security evaluation and optimization method of outage schedule based on bus load supply adequacy（LSA） and equivalent generation capacity loss（EGCL） is proposed with practical engineering computation method studied in detail. Besides， quantization security evaluation and optimization of outage schedule is implemented. By the results of sensitivity analysis based on the net model topology， the load supply adequacy（LSA） and equivalent generation capacity loss（EGCL） are calculated. This method is instructive for the outage schedule and has been applied in integrative optimization and management of outage schedule. The feasibility of this method is proved by engineering application.