Use of rotor with heavy mounting is becoming common recently, thus the demand to study rotor dynamics of rotor is increasing day by day. It becomes complicated to study vibrations when damping effect is considered. It becomes necessary to consider effect of damping near resonance frequency. For other frequencies, role of damping is negligible. The behavior of rotor assembly is largely depends on damping. With finite element analysis we can overcome these problems and find the acceptable results. In this study, response analysis is performed for a rotating vertical pump rotor assembly with the operating speed of 2970 RPM. Modal analysis is carried out with rigid supports. Modal analysis helps to detect the natural frequency of system which we can ultimately compare with operational frequency. Stiffness and damping values are calculated for all sleeve bearing. Results shows considerable margin between natural frequencies and operational frequencies. So, the structure can be considered as safe for operating conditions. If such analyses have already been performed during the original installation, the original rotor, numerical model exist whereby small modifications (e.g. Coupling exchange, change of oil type, added mass, new rotor diameter, etc.) can easily be made and new analysis done with little effort. The objective of analysis is to analyze the system and estimate the rotor\'s first, second and third the dry bending natural frequencies & lateral critical speeds of the rotating system. Also, understand the associated mode shapes & plot Campbell diagram to determine potential resonance points with respect to the operating speed (2970 rpm). This will ensure that the system is having sufficient margin as per API 610 over the wet critical speed during the actual operation.