Natural events such as floods and landslides can have severe consequences. The risks are expected to increase, both as a consequence of climate change and due to increased vulnerabilities, especially in urban areas. Although preventive measures are often cost-effective, some measures are beneficial to certain values, while some may have negative impacts on other values. The aim of the study presented here was to investigate two frameworks used for assessing the effectiveness and sustainability of physical and nonphysical flood and landslide risk reduction measures. The study is based on literature, available information from authorities and municipalities, expert knowledge and experience, and stakeholder views and values. The results indicate that the risks for subopti-mization or maladaptation are reduced if many aspects are included and a broad spectrum of stakeholders are involved. The sustainability assessment tools applied here can contribute to a more transparent and sustainable risk management process by assessing strategies and interven-tions with respect to both short- and long-term perspec-tives, including local impacts and wider environmental impacts caused by climate change, for example. The tools can also cover social and economic aspects. The assess-ment tools provide checklists that can support decision processes, thus allowing for more transparent decisions.