This study is to examine load-carrying capacity of a prestressed concrete containment vessel under the structural failure mode test via non-linear finite element (FE) analyses. Firstly, suitability of three candidate structural failure criteria was evaluated at ambient temperature condition, of which results showed that the maximum principal strain-based one predicts ultimate pressure capacity (UPC) most closely with the test data. Effect of increasing temperature corresponding to a postulated severe accident-induced condition was investigated and the UPC exhibited reduction ratios of 1.19–1.49% at the peak temperature of 200 °C approximately depending on each failure criterion. Finally, parametric FE analyses at 95% confidence level were performed to quantify effect of material property uncertainties. Overall, the impact of altered material properties of concrete and rebar was higher than that of tendon prestress, and the increase of UPC in upper bound cases exceeded the decrease of UPC in lower bound cases.