The article discusses various aspects of flood frequency and risk analysis in water resources projects. Researchers explore flood characteristics, design procedures for extreme floods, errors and outliers in analysis, and the design of water resource projects. They also delve into risk and reliability in water resources projects, flood damage assessment, and federal practices in frequency and risk analyses. Key findings include the application of probable maximum flood estimates, the Bayesian framework for flood frequency analysis, and the evaluation of financial risk in water projects.