This report describes the differences between a risk analysis and a vulnerability analysis, when applied to a Flue Gas Desulphurisation (FGD) facility. A Preliminary risk analysis complemented by an Event Tree analysis is compared with An App-roach to Vulnerability Analysis of Complex Industrial Systems by Einarsson and Rausand (1998). The focus of this report is to demonstrate the different steps of the different analyses, therefore comprehensively discuss major associated dangers for an FGD, but not to give a complete and detailed risk picture. The report points out advantages and disadvantages with the different analyses and is thus of helpful assistance when considering the option of choosing a risk- or a vulnerability analysis for an industrial system.