Economic Analysis
Quickly evaluate and understand the economic cost of flooding
Economic analysis of flood risk is often required in order to understand potential damages to houses, businesses and vehicles, the effect of property level protection, and risk to life.
Key facts
-
Use flood maps developed within Flood Modeller or other third-party modelling software
-
Increase your productivity using the GIS tools and inbuilt workflows to quickly undertake economic analyses
-
Applicable to any location in the world - specify your own depth damage data and currency
-
Use the Multi-Coloured Manual and Multi-Coloured Handbook for depth damage data (UK only)
-
Perform total damage, average annual damages, present value damages, and risk to life calculations
-
Allows economic calculation that take account of changes over time whether due to climate change, failure of existing structures, construction of new structures or other factors
-
Present complex economic data – use the mapping, graphing and reporting capabilities to quickly and effectively visualise and communicate your analysis
The Damage Calculator tool within Flood Modeller enables users to quickly evaluate the economic cost of flooding. The mapping and reporting features in Flood Modeller help users to analyse and present large volumes of complex economic data in easy to understand ways.
Using industry standard methods, Damage Calculator takes flood maps (depth grids for different return periods and at different points in time) and combines these with property datasets and depth-damage data to calculate the damage for each property affected by flooding. This data is then summed to obtain total damage for each flood event with the option to also calculate average annual damages (AAD) and, for a user specified timeframe, present value damages (PVD) values.
Specify your own depth damage data and currency to ensure calculations are appropriate to your specific location.
Damage Calculator analyses each property data point to evaluate where it lies within your flood extent depth grid data (e.g. derived from 1D or 2D modelling) and therefore what flood depth will be associated to each property for the calculation of damages.
The tool allows the user to specify whether there is any property level protection and can also be used to calculate the economic benefits of different measures to help manage or reduce the risk of flooding.
