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Item Restricted Costs and benefits of the mangahan floodway revisited(2010-10) Chan, Austin B.Our country is located in the world where natural hazards are common especially violent tropical cyclones. When these natural hazards come in contact with our land, it poses destruction of structures and loss of lives. To lessen the impact of these natural disasters to our economy, the government invests money on flood control projects. However, the Philippines being a third- world country, should first invest on projects with the highest benefit because of insufficiency of funds. There was an investigation done by the Philippine Center for Investigative Journalism showing that at least 7 out of ten projects funded by Official Development Aid (ODA) loans did not match their claimed benefits and results from the actual (Landingin 2008). This paper wants to find out whether the Mangahan Floodway was a worthwhile project implemented by the government and if it satisfies the standards set by it.