Railway level crossings pose risks to both train passengers and road users, worsened by the complex interaction between rail and road traffic, particularly on local railways. This study introduces a Risk Management (RM) framework designed to enhance safety at level crossings on local railways by providing a decision-support tool. By individually assessing risk factors, the framework allows for a precise evaluation of the current risk levels in terms of both Cumulated and Individual Risk levels, Individual Risk, and the impacts of potential modifications. The framework allows the quantitative assessment of risk and resource optimization, enabling infrastructure managers to identify high-risk crossings and select the most effective safety interventions. The framework was applied to 96 level crossings on an Italian local railway line, demonstrating its ability to support decision-making for targeted interventions as well as broader network-level actions, significantly improving system safety.