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<br />) <br /> <br />CHAPTER V <br />FLOOD DAMAGES FOR EXISTING CONDITIONS WITHOUT-PROJECT <br /> <br />) <br /> <br />This chapter traces the steps in defining the existing condition for <br />flood damage analysis, The work described here is generally the most <br />important stage in flood damage analysis. No planning of any sort can <br /> <br />proceed before the work in this phase is complete. It is also the stage <br /> <br />that is most clearly based on measurable variables, and thus it supplies <br /> <br />the most compelling evidence of whether there is a need for a project, <br /> <br />Flood damages for existing conditions are expressed in terms of <br /> <br />expected annual damages, Expected annual damages indicates the monetary <br /> <br />value of physical loss that can be expected in any given year based on the <br /> <br /> <br />magnitude and probability of losses from all possible events, Expected <br /> <br /> <br />annual damages are derived by combining the info~mation from three basic <br /> <br /> <br />relationships: elevation-discharge and discharge-frequency which the <br /> <br />hydrologic and hydraulic (H & H) engineers work with to compute the <br /> <br />elevation frequency relationship, and elevation-damage relationship which <br /> <br />is determined by the economist, Figure Vol shows how the information in <br /> <br />these three functions can be combined to calculate expected annual damage. <br /> <br />An eight-step process for calculating expected annual damages is described <br /> <br /> <br />in detail below, Figure V-2 shows the responsibilities of the economists <br /> <br /> <br />and hydrologic and hydraulic engineers in computing expected annual <br /> <br /> <br />damage, <br /> <br />) <br /> <br />V-I <br />