The Federal Emergency Management Agency (FEMA) in 2001 named a major hurricane hitting New Orleans as the most serious emergency threat to the nation. In August 2005, a category IV Hurricane by the name of Katrina ravaged the City of New Orleans. After the storm, LT. General Carl Strock, Chief of Engineers for the Army Corp of Engineers stated “the intensity of this storm simply exceeded the design capacity of this levee…which had a 200 or 300 year level of protection. That means that an event that we were protecting from might be exceeded every 200 to 300 years.” [1] The following probability will be the basis for determining the expected profit of rebuilding the city of New Orleans.
LinkedIn
Share