"Assessment of BCA of FEMA grants from 1993-2003. Loss estimation for wind and earthquakes computed by HAZUS but wasn't available for floods at time of this research. Distinguishes between Project grants and Process grants. Direct flood loss estimates derived from a probabilistic approach. Casualties, displacement costs, etc derived from MMC methodology. Addresses uncertainties in estimated benefits, with dicount rate being the overwhelming source. Benefit transfer approach is useed for valuation of environmental, cultural and historical damages, but the method is not discussed in any detail.
This report evaluates 5500 FEMA grants across various hazard types including earthquakes, flooding, and wind hazards and employs HAZUS MH to determine benefits of mitigation projects. EMA mitigation grants have a 4:1 investment ratio."
Rose, A. Porter, K., Nicole, D., Bouabid, J., Huyck, C., Whitehead, J., Shaw, D., Eguchi, R., Taylor, C., McLane, T., Thomas, L., Ganderton, P. T., Godschalk, D., Kiremidjian, A. S., Tierney, K., & West, C. T. (2007). Benefit-Cost Analysis of FEMA Hazard Mitigation Grants. doi: 10.1061/(ASCE)1527-69