Manual for Economic Evaluation of Flood Control Investment provides a systematic framework for assessing the economic feasibility and social benefits of flood protection projects. It guides practitioners in identifying, quantifying, and comparing costs and benefits over the project lifecycle, including construction, operation, maintenance, and potential failure impacts.
Key benefits considered include avoided property damage, reduced economic disruption, lives saved, and environmental preservation. The manual emphasizes using economic (shadow) prices to reflect true social costs and benefits, rather than just financial expenditures. It also provides guidance on discounting future flows, performing sensitivity analysis, and accounting for uncertainty, particularly in the context of climate variability and extreme events.
By applying these principles, the manual supports decision-makers in selecting flood control investments that maximize net social benefits, ensure cost-effectiveness, and improve resilience to both current and future flood risks.
