Floods result in great human disasters globally and nationally, causing an average of $4 billion of damages each year in the United States. Minnesota has its share of floods and flood damages, and the state has awarded nearly $278 million to local units of government for flood mitigation projects through its Flood Hazard Mitigation Grant Program. Since 1995, flood mitigation in the Red River Valley has exceeded $146 million. Considerable local and state funding has been provided to manage and mitigate problems of excess stormwater in urban areas, flooding of farmlands, and flood damages at road crossings. The cumulative costs involved with floods and flood mitigation in Minnesota are not known precisely, but it is safe to conclude that flood mitigation is a costly business. This chapter begins with a description of floods in Minneosta to provide examples and contrasts across the state. Background material is presented to provide a basic understanding of floods and flood processes, predication, and management and mitigation. Methods of analyzing and characterizing floods are presented because they affect how we respond to flooding and can influence relevant practices. The understanding and perceptions of floods and flooding commonly differ among those who work in flood forecasting, flood protection, or water resource mamnagement and citizens and businesses affected by floods. These differences can become magnified following a major flood, pointing to the need for better understanding of flooding as well as common language to describe flood risks and the uncertainty associated with determining such risks. Expectations of accurate and timely flood forecasts and our ability to control floods do not always match reality. Striving for clarity is important in formulating policies that can help avoid recurring flood damages and costs.