Flood risk can be assessed based on the consequences of flooding for a community and the likelihood of those consequences occurring. Consequences vary between flood events of different magnitudes and due to differences within the community of exposure to flooding and in the vulnerability between and within the elements at risk.

Information on the full range of flood behaviour provides a sound basis for understanding flood behaviour in the floodplain, the exposure of the community to flood risk and the vulnerability of the different elements to flooding. It can also identify whether risk is evenly spread across the floodplain and elements or concentrated in certain areas or particular elements or cohorts of elements. Understanding this variation allows for a more detailed analysis of flood risk and a focus on options to address the specific risks that the community faces.

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