Abstract: Center of gravity (COG) of generalized fuzzy numbers is calculated with simple center of gravity method (SCGM) and a new fuzzy risk analysis method based on similarity measures of generalized fuzzy numbers is proposed, which considers the confidence level of ideas from decision makers and uncertain risk influence factors. Taking failure probability of pipeline as an example, evaluation steps to apply the method are provided. Calculation results show that the method can exactly deal with fuzzy risk analysis issues and can provide a reference foundation to safety management of pipelines.