Dynamic analysis of binary files is an area of computer science that has many purposes. It is useful when it comes to debugging software in a development environment and the developer needs to know which statements affected the value of a specific variable. But it is also useful when analyzing a software for potential vulnerabilities, where data controlled by a malicious user could potentially result in the software executing adverse commands or executing malicious code. In this thesis a tool has been developed to perform dynamic analysis of x86 binaries in order to generate dynamic control-dependence graphs over the execution. These graphs can be used to determine which conditional statements that resulted in a certain outcome. The tool has been developed for x86 Linux systems using the dynamic binary instrumentation framework PIN, developed and maintained by Intel. Techniques for utilizing the additional information about the control flow for a program available during the dynamic analysis in order to improve the control flow information have been implemented and tested. The basic theory of dynamic analysis as well as dynamic slicing is discussed, and a basic overview of the implementation of a dynamic analysis tool is presented. The impact on the performance of the dynamic analysis tool for the techniques used to improve the control flow graph is significant, but approaches to improving the performance are discussed.