Capacity-spectrum-based-methods areused for assessing the vulnerability and risk of existing buildings. Capacity curves are usually obtained by means of nonlinear static analysis. Incremental Dynamic Analysis is a powerful tool based on nonlinear dynamic analysis. This method can provide results similar to the pushover analysis as the input is increasingly enlarged. It is well known that the randomness associated to the structural response can be significant, because of the uncertainties involved in the mechanical properties of the materials, among others uncertainty sources, and because the expected seismic actions are also highly stochastic. In this chapter, selected mechanical properties are considered as random variables and the seismic hazard is considered in a probabilistic way. A number of accelerograms of actual European seismic events have been selected in such a way that their response spectra fit well the response spectra provided by the seismic codes for the area where the building is constructed.A fully probabilistic approach is tackled herein by means of Monte Carlo simulation. The method is applied to a detailed study of the seismic response of a reinforced concrete building. The main purposes of this work are 1) to analyze the differences when static and dynamic techniques are used and 2) to obtain a measure of the uncertainties involved in the assessment of the vulnerability of structures. The results show that static based procedures are somehow conservative and that uncertainties increase with the severity of the seismic actions and with the damage. Low damage state fragility curves have little uncertainty while high damage grades fragility curves show great scattering.