This paper examines the development, use, and evaluation of a new traffic conflict analysis technique that specifically addresses pedestrian–vehicle conflicts with the intention of being applicable to shared-space environments. The method is based on an existing, well-established, and widely used vehicle–vehicle conflict analysis technique, but is adapted to consider the movement of pedestrians, which differs significantly from that of vehicles. The new method is then implemented on the Exhibition Road site of West London with the use of video data collected from locations with a potentially high concentration of vehicle–pedestrian conflicts, and the results of the analysis are presented. Finally, the results are compared with those obtained by other conflict analysis techniques and also against accident data to assess not only the accuracy but also the functionality of the new technique.