Radio Frequency Identification(RFID) has been considered as an key infrastructure for the ubiquitous society. However, due to the inherent drawbacks, RFID causes var- ious security threats like privacy problems, tag cloning, etc. This paper analyses the security risk analysis process from the perspective of the RFID tag life cycle, identify the tag usage process, identify the associated vulnerability and threat to the confidentiality, integrity and availability of the information assets and its implications for privacy, and the mitigate the risks.