Flood risk management (FRM) studies evaluate measures to reduce flood risk in a watershed. In these studies, HEC-HMS is used to develop without- and with-project flow-frequency curves that, combined with hydraulic and economic analyses, support the comparison of alternatives. This chapter provides background on FRM studies, a case study that evaluates inundation-reduction alternatives in the Chicken Ranch Slough (CRS) watershed, a summary with key takeaways, and references.