Engineering Risk Analysis and Multi-Objective Decision-Making Under Risk are considered as a general framework for floodplain management and protection from extreme floods. Distinction is made between (a) the catchment or large scale planning and (b) the local or small scale design of protection measures. After defining the risk of flooding at different scales and multiple criteria for selecting among alternative measures of floodplain protection and management, the methodology is illustrated in a case study from Greece (Giofyros Basin, Crete Island), where a devastating flood occurred on the 13th of January, 1994. Possible remedial structural and non-structural solutions are analyzed which may protect the inhabited area and important public buildings from future extreme floods.