Revision with unchanged content. Droughts are an integral part of semi-arid environments with far reaching negative consequences. Management decisions in these environments should be evaluated against scenario of uncertainty in climate and prices. There is a need for forecasting environmental and economic risks associated with different management options. Development of simple yet effective models to assist in development of effective management strategies is vital. These models should evaluate the potential risks and benefits of alternative management strategies. This study evaluates the effects of stocking rate for fixed and flexible strategies on range condition, ranch income and expenses for a cow-calf enterprises. The analysis should assist livestock manager produced sustainably in semi-arid environments. Use of principles in the study can alleviate some of the drought induced livestock mortalities through forward looking forage planning. The book is addressed to livestock producers, ecologists, drought management strategists and climatologists. It is a good guide for researchers in the field of ecological modeling, particularly those looking at developing more robust and user friendly models.