Background: Nowadays, service-oriented architectures and cloud-based infrastructures are widely used in manufacturing industries and IT organizations. These architectures and infrastructures are based on shared system resources. In some organizations, system resources like a printer, photocopy machines, and scanners are also shared among the members of the organization. The purpose of the proposed work is to model various types of shared system resources, shared system resources based architecture/infrastructure and analyze the model to identify the possible security risk associated with shared system resources and shared system resources based architecture/infrastructure. Design Approach: To model shared system resources and shared system resources based architecture/Infrastructure, Petri net and its variations are used. For security analysis of the Petri net based model of the shared system resource, Petri net algebra based concepts are applied. Results: The present paper successfully demonstrates that the proposed Petri net based modeling approach can be used for quantitative and qualitative security analysis of shared system resources and shared system resources based architecture/infrastructure. For quantitative analysis of security risk associated with shared system resources, information theoretic concepts are used. To demonstrate the effectiveness of the proposed method, case studies are also incorporated in the present paper. The proposed approach can take various security risk factors like timing analysis attack, information leakage due to confidentiality policy violation and power analysis attack into the consideration while analyzing the security of shared system resources in the industrial environment.