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Understanding Your Risks: Identifying Hazards and Estimating Losses

Mitigation Planning How-To Guide # 2 (FEMA 386-2), the second guide in the State and Local Mitigation Planning How-To Series, provides step-by-step guidance on how to perform a risk assessment. Through a series of general and hazard-specific guidance and worksheets, the guide will help State, Indian Tribal, and local planning teams determine (1) which natural hazards could affect a jurisdiction; (2) what areas of the jurisdiction are vulnerable to the hazards; (3) what assets will be affected; and (4) to what degree they will be affected, as measured through dollar losses. This Guide is multi-hazard in scope, addressing flood, earthquake, tsunami, tornado, coastal storm, landslide and wildfire hazards. For communities dealing with multiple hazards, guidance is also provided on how to develop a composite loss estimate. Once the risk assessment is completed, State. Indian Tribal, and local officials will have the information necessary to develop a strategy and plan for reducing their losses.