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Eugene -Springfield Area Natural Hazards Mitigation Plan 4. Risk and Vulnerability The first phase, hazard identification, involves identifying the geographic extent of a hazard, its intensity, and its probability of occurrence. This level of assessment typically involves mapping of assets and hazards and is covered in Section 2, Hazard Descriptions, and Section 3.1, Hazard Maps. The outputs from this phase can be used for land use planning, management, and regulation; public awareness; defining areas for further study; and identifying properties or structures appropriate for acquisition or relocation. 81 The second phase, vulnerability assessment, combines the information from the identified hazards with an evaluation of the existing (or planned) infrastructure and the population exposed to a hazard. It attempts to predict how the identified hazards could affect various infrastructure and population groups. This phase can also assist in identifying necessary changes to building codes or development of regulations, property acquisition programs, policies concerning critical and public facilities, taxation strategies for mitigating risk, and informational programs for members of the public who are at risk.82 Section 4.4 describes the 2014 Regional Climate and Hazard Vulnerability Assessment. The third phase, risk analysis, involves estimating the damage, injuries, and costs likely to occur in the geographic area for each identified hazard. Section 4.3 describes this phase. This three-phase approach is conducted sequentially because each phase builds upon data from previous phases. However, gathering data for a risk assessment need not occur sequentially. 4.2.2 Components of Risk Analysis. Risk assessment for natural hazards includes three waited components. Each component is important to assessing risk and is described below. Vulnerability estimates are based on the percentage of the population or assets negatively affected by the natural hazard. Assets are any infrastructure or properties within jurisdictional boundaries or owned by one of the Plan Holders. Probability estimates are based on the frequency of previous events. Capacity is the community's ability to respond to, and recover from, a natural hazard event. Estimates for this variable are based on the potential number of outside resources needed to respond to, and recover from, a specific natural hazard event. Capacity is a new variable added in the 2020 Eugene -Springfield NHMP Risk Matrix. " Burby, Raymond J. Cooperating with Nature: Confronting Natural Hazards with Land Use Planning for Sustainable Communities. Washington, D.C.: Joseph Henry Press, 1999. 126. 82 Ibid. 4-3 January 2020