We present a holistic approach for identifying risks associated with natural hazards and developing an optimum combination of measures. This approach is starting with the identification of the goods to be protected and deriving the stakeholders to be included from these goods to be protected. The risks are characterized together with the stakeholders. The acceptable risks are derived in a participatory process with the stakeholders before possible combinations of measures are discussed. The approach and the associated course have been developed together with practitioners in Switzerland and are primarily intended for practitioners in Switzerland.