Risk and Uncertainty in Flood Damage Reduction Project Designby Ming T. Tseng, U.S. Army Corps of Engrs, WA, United States,
Earl E. Eiker, U.S. Army Corps of Engrs, WA, United States,
Darryl W. Davis, U.S. Army Corps of Engrs, WA, United States,
Abstract: The recent emphasis on partnership between the Federal government and local sponsors in the development of flood damage reduction projects has promoted considerable interest in the application of risk-based methods for project analysis. Project formulation by such an approach is generally considered to be more objective in establishing a good balance between cost and risk. This paper describes a risk and uncertainty method for project analysis.
Subject Headings: Risk management | Floods | Damage (structural) | Federal government | Uncertainty principles | Public private partnership | Local government | Construction costs
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