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In this paper, we present a new method for fuzzy risk analysis based on the ranking of generalized trapezoidal fuzzy numbers. The proposed method considers the centroid points and the standard deviations of generalized trapezoidal fuzzy numbers for ranking generalized trapezoidal fuzzy numbers. We also use an example to compare the ranking results of the proposed method with the existing centroid-index ranking methods. The proposed ranking method can overcome the drawbacks of the existing centroid-index ranking methods. Based on the proposed ranking method, we also present an algorithm to deal with fuzzy risk analysis problems. The proposed fuzzy risk analysis algorithm can overcome the drawbacks of the one we presented in [7].