Socio-Economic Regional Risk Assessment (SERRA) application to flood risk in the Vipacco Basin (north-east Italy)

According to EEA (European Environmental Agency), flood is the most dangerous natural hazard in Europe in terms of economic losses. TheKULTURisk Project (EU FP7) has developed a novel methodology for evaluating the integrated benefits of risk prevention of water related natural hazards: SERRA (i.e. Socio-Economic Regional Risk Assessment). The proposed methodology enhances the traditional flood risk assessment by integrating the missing socio-economic dimension into the established regional risk assessment. Several case studies across Europe allowed for the consolidation, validation, and refinement of SERRA. This paper presents the results of its application to assess the benefits deriving from the installation of an Early Warning System in Vipacco river basin in Friuli Venezia Giulia (Italy). Social, economic and physical data are used to assess the total expected risk for several receptors such as economic activities, cultural heritage, people, etc. The collected socio-economic data are stored in Geographic Information System (GIS) and processed according to SERRA algorithms to produce maps of various categories of costs (beyond physical-environmental damages) in order to assist the Decision Makers (DMs) in making more informative decisions. The visualization of total risk through GIS maps allows the DMs to understand the spatial distribution of social vulnerability, risk, and associated costs.