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In the paper the potencial risk of failure and damage evolution in the castbar operated in the temperature range from +20oC(293K) to -60oC(213K), under dynamicloading, has been analysed by several approaches. The strength properties and fracturetoughness of cast steel have been determined in the above range of temperatures. The computersimulation of the stress and displacement states as well as damage evolution in thecast bar have been performed at temperatures of +20oC(293K) and -60oC(213K), assumingtwo hypotheses of material deformation: Huber-Mises yield criterion and Gurson-Tvergaard-Needleman plastic potential model. To estimate the influence of temperature onthe cast steel fracture mechanism, the fractographic examinations of tested specimens weremade. The assessment of the reliability of cast element under dynamic loading at varioustemperatures has been performed using R-6 Code Software. As a result the admissibledefect size and the fracture mechanisms at different temperatures have been estimated.