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Examining actual hazard analyses conducted by state and local emergency management programs in the United States shows that a variety of methods of quantitative or quasi-quantitative methods are in use:
Rating each hazard by the number of key factors that are present in the hazard,
Assigning a spread of points to each key factor and then using the cumulative value as the basis for rating, and

Using mathematical formulas to represent the interactions between the various factors in the hazard.

The following three slides provide examples of how these methods might be applied to a scenario using the factors previously used to characterize a hazard in this lecture.  Obviously very different factors could be used by a locality conducting this process based on differing needs and requirements.