FEMA's Mitigation Division has announced the public release of HAZUS-MH, a powerful risk assessment software. HAZUS-MH, is a nationally applicable standardized methodology and software program that contains models for estimating potential losses from earthquakes, floods, and hurricane winds. HAZUS-MH was developed by the Federal Emergency Management Agency (FEMA) under contract with the National Institute of Building Sciences (NIBS). NIBS maintains committees of wind, flood, earthquake and software experts to provide technical oversight and guidance to HAZUS-MH development. Loss estimates produced by HAZUS-MH are based on current scientific and engineering knowledge of the effects of hurricane winds, floods, and earthquakes. Estimating losses is essential to decision-making at all levels of government, providing a basis for developing mitigation plans and policies, emergency preparedness, and response and recovery planning.

HAZUS-MH uses state-of-the-art geographic information system (GIS) software to map and display hazard data and the results of damage and economic loss estimates for buildings and infrastructure. It also allows users to estimate the impacts of hurricane winds, floods, and earthquakes on populations. HAZUS-MH will be fast-running to facilitate use in real time to support response and recovery following a natural disaster.

http://www.fema.gov/hazus/hz_meth.shtm

See also this fine Intro to Hazus