Abstract
Budget allocation for mitigation management needs to consider uncertainty and combination of multiprogram. In this research, we analyze the effectiveness of the budgeting process from this viewpoint. As a result, it is suggested that budget allocation depends on the subjectivity of the evaluators. As one method to improve this situation, we show that portfolio method can visualize the uncertainty and return, and that the method provides information for budget allocation. The information would help for deliberation among policymakers.