The increasing integration of renewable energy sources, energy storage systems, and power electronics has led to a significant rise in the variability and unpredictability of both load and generation. Consequently, the speed at which system operating parameters change has accelerated dramatically. As a result, there is a growing demand for rapid and reliable algorithms for marginal state assessment in power systems. This paper examines the recently proposed Transversality Enforced Newton–Raphson (TENR) method for marginal state assessment and proposes its improvement. The TENR has been augmented by introducing bus sensitivity analysis, which allows us to find the most effective bus for the deployment of emergency control action. The effectiveness of the proposed approach is illustrated through case studies involving the WSCC 9-bus and IEEE 14-bus test systems.