Reliable functioning of infrastructure networks is essential for our modern society. Cascading failures are the cause of most large-scale network outages. Although cascading failures often exhibit dynamical transients, the modeling of cascades has so far mainly focused on the analysis of sequences of steady states. In this article, we focus on electrical transmission networks and introduce a framework that takes into account both the event-based nature of cascades and the essentials of the network dynamics. We find that transients of the order of seconds in the flows of a power grid play a crucial role in the emergence of collective behaviors. We finally propose a forecasting method to identify critical lines and components in advance or during operation. Overall, our work highlights the relevance of dynamically induced failures on the synchronization dynamics of national power grids of different European countries and provides methods to predict and model cascading failures.