Smart grids are large and complex cyber physical infrastructures that require real-time monitoring for ensuring the security and reliability of the system. Monitoring the smart grid involves analyzing continuous data-stream from various measurement devices deployed throughout the system, which are topologically distributed and structurally interrelated. In this paper, graph signal processing (GSP) has been used to represent and analyze the power grid measurement data. It is shown that GSP can enable various analyses for the power grid's structured data and dynamics of its interconnected components. Particularly, the effects of various cyber and physical stresses in the power grid are evaluated and discussed both in the vertex and the graph-frequency domains of the signals. Several techniques for detecting and locating cyber and physical stresses based on GSP techniques have been presented and their performances have been evaluated and compared. The presented study shows that GSP can be a promising approach for analyzing the power grid's data.