Safety and security emerge to be the most significant features of a Cyber-Physical System (CPS). Safety and security of a system are interlaced concepts and have mutual impact on each other. In the last decade, there are many cases where security breach resulted in safety hazards. There have been very few studies in the literature that address the integrated safety security risk assessment. Since, the need of the time is to consider both safety and security concurrently not even consequently. To close this gap, we aim to: (i) perform hazard analysis using Failure Mode Effect Analysis (FMEA) of a cyber physical system case i.e., Dam case study, and (ii) perform risk identification, risk analysis and mitigation for the said case. As a result, we extracted the potential failure modes, failure causes, failure effects, and the risk priority number. In addition, we also identified the safety requirements for the modes of the subject.