Synchrotron radiation sources are increasingly being used in research and medical applications. Various instances of overexposure in these facilities have been reported in literature. These instances have led to the investigation of the risks a~sociated with them with a view to minimize the risks and thereby, increasing the level of safety. In nuclear industry, Probabilistic Safety Assessment (PSA) methods are widely used to assess the risk from nuclear power plants. PSA presents a systematic methodology to evaluate the likelihood of various accident scenarios and their possible consequences using fault/event tree techniques. It is proposed to extend similar approach to analyze the risk associated with synchrotron radiation sources.