Assessing the risk of flooding
The first step is to qualify and quantify risk in an objective way. Risk is defined as the probability of an event or hazard, multiplied by its consequences. Risk = probability of occurrence x consequence
The probability and the consequences of a flood event can be assessed through the creation of a risk matrix. Risks can be prioritised according to their magnitude. Events with low probability and low consequences can be ignored, whilst events that are very likely to occur with severe consequences will be considered unacceptable.
Theseus booklet 3 (EN)