My thesis will focus on risk management practically in developing countries. In this research study, first a literature review about the concept of risk management and its concerns is provided which is the output of extensive review of resources such as journal papers, books and research studies. Then a case study will be reviewed in Iran which is considered as a developing country. In this step, the researcher attempts to extract needed information for her research based on the theory of frames. After gathering needed information the findings which are extracted from practical environment are compared to the academics material to answer the questions which are defined in the primary steps. Meanwhile, the main purpose of this study is reviewing the conditions of work environment in developing countries and extract main concerns and compare them to the standards, methodologies and tools and techniques of risk management to improve the efficiency and effectiveness of using these tools in performing risk management in developing countries.