Flood and risks associated with flood, are extremely alarming for every human being due to loss of life and belongings which is a nightmare well known to all. Disruption in the economy and society due to flood damage can inflict heavy loss and proper management is required to combat further damage. Microwave data has been used in the present work to compute flood vulnerability, damage and risk and clear distinction about all these terms have been thoroughly discussed in the book to elucidate and propose proper management strategies. Assessment of flood extent, depth and duration has been done from Radar images by remote sensing techniques to further compute the flood risk. The main purpose of the study is to identify the vulnerable objects in the path of flood damage and to quantify the loss and determining the value of assets.