Light Steel Frame (LSF) system is mainly used for construction of short and intermediate-height buildings in developed countries whereas considerable heed is not given to it in developing countries. Unfamiliarity to LSF risks is one of the main reasons for this averseness so risk management can remedy this challenge and develop its application. Hence, this paper investigates the risk management of LSF considering design, construction and operation phase. Three steps entailing risk identification, assessment and responding using fuzzy Failure Mode and Effect Analysis (FMEA) technique are suggested for risk management implementation and validation of responses, a novel index with respect to weighted combination of project quality, time and cost is calculated. The methodology is demonstrated on a pilot study in a developing country. By using interview, 29 significant risks are extracted in design, construction and operation and then evaluated by proposed fuzzy method. Results showed that the share of the risks in these steps are 21%, 31% and 48% respectively. The results revealed that the risks in the construction and operation phases are higher than those in the design phase. The results also show that involving safety as a project object in the risk management process could eventuate acceptable results.

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