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In seismic design standards such as KDS 41 17 00 and ASCE 7, three procedures are provided to estimate seismic demands: equivalent lateral force (ELF), response spectrum analysis (RSA), and response history analysis (RHA). In this study, two steel special moment frames (SMFs) were designed with ELF and RSA, which have been commonly used in engineering practice. The collapse probabilities of the SMFs were evaluated according to FEMA P695 methodology. It was observed that collapse probabilities varied significantly in accordance with analysis procedures. SMFs designed with RSA (RSA-SMFs) had a higher probability of collapse than SMFs designed with ELF (ELF- SMFs). Furthermore, RSA-SMFs did not satisfy the target collapse probability specified in ASCE 7-16 whereas ELF-SMFs met the target probability.