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<br />are utilized for estimating flood-frequenGy relations that then are used in flood-plain management, design of <br />hydraulic structures located in floodplains (culverts, bridges, and highways), and related environmental <br />studies. They also are used to estimate PMP/PMF values that are used in design-flood hydrology <br />(reservoirs, emergenGy spillways). Use of questionable and erroneous data in research studies also <br />affects the basic understanding of hydrometeorological processes of floods. This has resulted in <br />questionable methods that are used to assess flood magnitude and frequenGy. Questionable precipitation <br />and flood- data is not limited to Colorado. Because of the importance of extreme-rainfall and flood data, <br />independent reviews of the accuraGy of extreme-rainfall data are needed to ensure the most reliable <br />hydroclimatic studies in subsequent water-resources investigations. The interdisciplinary paleoflood and <br />hydroclimatic-data assessment methodology can be used as a basis to assess the accuraGy and <br />reliability of other questionable rainfall data. <br /> <br />The environmental and economic importance of major floods emphasizes the need to better understand <br />hydrometeorologic processes. An interdisciplinary, integrated, process-oriented approach is discussed <br />that will result in improving the methods to understand, manage, and mitigate flood losses. The total <br />economic cost of floods does not include societal costs associated with overdesign of hydraulic structures <br />in floodplains, and overestimated magnitude-frequenGy relations in floodplain management and related <br />flood studies. Proper design of structures and flood-plain management requires balancing potential flood <br />losses with the potential costs of the overdesign. The cost of overdesign often is an unrealized economic <br />loss to society in that it utilizes limited National resources that have competing uses. A critical component <br />of research, science, engineering, and management of floods is to determine the best estimates of the <br />magnitude, frequenGy, and risks of flooding for the optimal benefit of society. Overdesign and <br />overestimated flood estimates are related to a conservative approach of engineering design and <br />insufficient or questionable hydroclimatic data. In the Rocky Mountain region, societal costs is estimated to <br />be in excess of $10 billion related only to the modification of spillways for thousands of existing dams. <br />Because of an applied and relevant research program in collaboration with efforts of dam-safety officials <br />and managers to improve hydrologic aspects of dams, the societal cost became a savings to the Nation. <br /> <br />12 <br />