Risk assessment through developing risk matrix is used as quick visual tool for managing potential risk in any continuous production system which can be used for further improved maintenance planning. Failure mode and effect analysis also support in assessing risk of minor or major failures associated with different consequences of human impact, production loss, maintenance loss etc. For developing risk matrix, scoring of likelihood and severity are necessary to identify the potential risk zone. An attempt has been made in the present study to assess overall failure scenario of offset-printing machine by developing a bathtub curve. Different types of failure frequencies and corresponding failure probability of the machine are set as a value representative likelihood failure data. The critical consequences of these failures are discussed for estimation of actual risk and risk index. Matrix of risk and risk priority number are developed here on the basis of likelihood scores of each kind of failure probability and severity scores by considering different types of breakdown causes and their associated costs. Based on the risk matrix developed, maintenance interval time has been determined which seems to be a novel approach for reduction of risk and breakdown time. Finally, maintenance and safety recommendation on the basis of risk level are discussed.