SECTION 6: MITIGATION STRATEGY
o Potential to Save Lives o Importance of Benefits o Level of Inconvenience or Unintended Consequence o Losses Avoided o Number of People to Benefit
• Cost
o Estimate of Upfront Cost o Estimate of Ongoing Cost o Benefit to Cost Ratio o Financing Availability o Affordability o Elimination of Repetitive Damages
In accordance with the DMA requirements, an emphasis was placed on the importance of a benefit-cost analysis in determining action priority, as reflected in the prioritization criteria above. For each action, the HMPC considered the benefit-cost analysis in terms of: • Ability of the action to address the problem • Contribution of the action to save life or property • Available technical and administrative resources for implementation • Availability of funding and perceived cost-effectiveness The consideration of these criteria helped to prioritize and refine mitigation actions but did not constitute a full benefit-cost analysis. The cost-effectiveness of any mitigation alternative will be considered in greater detail through performing benefit-cost project analyses when seeking FEMA mitigation grant funding for eligible actions associated with this plan. Using these prioritization criteria, the HMPC the assigned a subjective priority rating of High, Medium, or Low priority to each action. The prioritization ranking for each mitigation action considered by the HMPC is provided in Section 7 Mitigation Action Plans.
Wake County, NC Multi-Jurisdictional Hazard Mitigation Plan
WSP June 2024 Page 295
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