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The present work studies the application of a probabilistic methodology in the sensitivity analysis of a steel column to identify the dominant parameters in its load capacity. Monte Carlo type simulations, in combination with the finite element method, was carried out to achieve the proposed objective. The geometric nonlinearity in the model was considered in order to reflect large deflections and initial geometric imperfections. The results show that the sensitivity of the column to a specific input parameter depends on the slenderness ratio and, hence, the column will be more sensitive to one parameter or another depending on that relationship.