Improved building-specific flood risk assessment and implications of depth-damage function selection

Average annual loss (AAL) is traditionally used as the basis of assessing flood risk and evaluating mitigation measures. This research presents an improved implementation to estimate building-specific AAL, with hazard a building represented by Gumbel extreme value distribution. AAL then calculated integrating area under overall loss-exceedance probability curve using trapezoidal Riemann sums. compared existing estimations from assessment. A sensitivity analysis conducted examine variability in results based on depth-damage function (DDF) choice. To demonstrate methodology, one-story single-family residence selected assess financial benefits freeboard (i.e., increasing lowest floor elevations). Results show that 1 ft. reduction over $1,000, while 4 ft nearly $2,000. The result suggests DDF selection critical, large proportion counted below top first floor. findings this paper will enhance selection, improve estimates, encourage homeowners communities invest mitigation, provide government decision-makers information when considering code changes.