During the first cycle of the implementation of the EU Floods Directive, the Romanian authorities used a qualitative approach for the development of flood risk maps. For the second round of implementation (due in 2022) a more quantitative approach is required where risks are monetized. With a monetized risk assessment it will be possible to assess the impact of flood protection measures in cost benefit analysis and substantiate investment decision in flood risk management The project included an update of the damage, loss and risk assessment methodology to prepare for the second cycle of the EU Floods Directive.
The first step in the project was to define a set of typologies for which flood damage curves need to be developed. More than 80 typologies were selected that describe the Romanian setting. Based on information on economy, construction cost standard prices and other readily available data Maximum Damage Values and damage curves were tailored for the Romanian setting for each individual typology. The method was designed in such a way that it is compliant with various types of open sources exposure data products (i.e. Corine Land Cover or Urban Atlas) as well as a detailed object based exposure data set which is specifically prepared for the second cycle of the EU flood directive.