In this study, we examine how better forecasts can reduce flood risk and improve water availability. We use maps of flood-prone areas and property locations to identify which homes and buildings could be affected by flooding downstream of major reservoirs. We then estimate how forecasts could reduce the amount of damage these floods might cause.

We also consider how improved forecasts could help store more water during dry years, providing additional value during droughts. Our analysis helps answer practical questions, such as: What's the economic value of an additional day of lead time?

By connecting weather forecasts to real-world outcomes, like fewer flooded homes and more reliable water supplies, this study shows how forecasts can help communities become safer and more resilient in both wet and dry times.