Abstract
Drought-related risk estimation is widely acknowledged as a tool towards enhancing drought preparedness and minimizing impacts on people, the economy and the environment. In this paper a method is proposed for the risk-based assessment and prioritisation of long-term drought mitigation options in order to support decision making for drought planning. The assessment combines water balance modelling, hazard analysis, and risk and cost effectiveness analysis. The proposed approach allows an improved understanding of drought-related risks by following a probabilistic analysis of drought impacts under different mitigation options. The method is applied in a drought-prone area with water scarcity problems, the Greek island of Syros. The assessment focuses on agriculture and domestic water use, the two main water using sectors in the island. Six mitigation options are cross-compared in terms of contribution to future drought risk reduction using three criteria: risk, vulnerability and benefit-cost ratio. The results validate the use of risk-based assessment of mitigation options as a valuable tool for improved drought management.
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