Reliability, resiliency and vulnerability for the risk analysis are mathematically defined as the evaluation standard of risk level to characterize the risk which influences water resources management and optimal reservoir operations. Monthly inflows are synthetically generated by stochastic generation model for a long-term reservoir water budget analysis, and this method is applied to the Dae-Cheong Multipurpose Dam. As a result of study, reliability based on occurrence, time and quantity are derived respectively. Also resiliency, vulnerability and resiliency incdices are estimated to evaluate the performance of water supply on reservoir system, and their relationships are evaluated.