Standard guide for developing a cost-effective risk mitigation plan for new and existing constructed facilities
Protecting constructed facilities from damages from natural and man-made hazards in a costeffective manner is a challenging task. Several measures of economic performance are available for evaluating building-related investments. These measures include, but are not limited to, life-cycle cost, present value net savings, savings-to-investment ratio, and adjusted internal rate of return. This guide provides a generic framework for assessing the risks associated with natural and man-made hazards, formulating combinations of risk mitigation strategies for constructed facilities exposed to those hazards, and using measures of economic performance to identify the most cost-effective combination of strategies.