This study uses FMECA (Failure Modes, Effects, and Criticality Analysis) and HAZOP (Hazard and Operability), which are widely applied in industrial areas, among risk assessment methods, and applies them to the same system. While FMECA evaluates system failure conditions and analyzes risks, HAZOP evaluates the system comprehensively by evaluating operational risks that may occur based on system parameters. According to data released by the Ministry of Land, Infrastructure and Transport, as of December 2021, the length of roads in Korea is 113,405 km, and the repair of guardrails that have expired must be fixed urgently in terms of traffic safety. Replacing all of these guardrails with new ones requires a very large cost, but if the guardrails are repaired with a vehicle equipped with the G-Save method, carbon emissions are reduced, the repair period is shortened, and great economic benefits can be obtained. However, risk assessment for guardrail coating vehicles has not been done so far. Focusing on this point, this study aims to evaluate the risk of these coating vehicles and describe the results. Finally, we found that the Risk Priority Numbers(RPN) in the FMECA risk assessment were greatly reduced, and 6 risk factors from HAZOP risk assessment and actions were taken.