Framework, approach and process for investment road mapping: a tool to bridge the theory and practices of flood risk management

The Hyogo Framework for Action (2005–2015) has been a long-standing international policy instrument for disaster risk management. However, many developing countries still lack the appropriate risk management policies and frameworks that suit the national and local needs. There is little or no discussion on the appropriate framework, approach and process for the implementation of international or national policies into the practices. There are many unanswered questions, particularly related to the standards and linkages among proposed tools such as damage, risk and need assessments, and their uses in the formulation of strategies and investment road maps. As a result, flood risk management related problems and issues are often addressed by many countries in an ad hoc and fragmented fashion. For many developing countries, the most pressing challenge at present is to find a trade-off between their capacity and risk reduction options. This paper discusses the current gaps and proposes the framework, approach, processes, and methodologies, in the form of guidelines, leading to the formulation of the flood risk management strategies and the investment road map.