Flood Risk Management Towards a New Paradigm HAZARD INPUT EDUCATION ASSESSMENT COLLABORATION THE RISK MANAGEMENT TRIANGLE (In flight, 2008) RISK VULNERABILITY DECREASED RISK A SHARED RESPONSIBILITY EXPOSURE THE RISK TRIANGLE (David Crichton, 1999)

FLOOD RISK MANAGEMENT: All stakeholders contribute to reducing risk! BUYING DOWN RISK Initial Risk Zoning Building Codes Outreach Risk Evacuation Plan Insurance Levee Residual Risk This graph illustrates the definition of flood risk management, and carries our message that some risk will remain no matter what measures are in place. We have transitioned from flood control to flood damage reduction and now to flood risk management The graph shows just a few of the tools that can be used to buy down or manage risk Note that the tools are shared as is the responsibility for flood risk management, some of the tools lie within the responsibility of the nonfederal entities Also note that there will always be a residual risk and the goal is to collaboratively reduce the residual risk to acceptable levels. Risk Reduction Tools (Cumulative) All stakeholders contribute to reducing risk!