As part of the National Flood Insurance Act of 1968, Congress created the Unified National Program for Floodplain Management to coordinate efforts of government programs that can affect flooding or floodplain development. The task force that coordinates the program defines "floodplain management" as "a decision-making process that aims to achieve the wise use of the nation’s floodplains." "Wise use" means both reduced flood losses and protection of the natural resources and functions of floodplains.
The task force also identified four floodplain management strategies for reducing economic losses and minimizing losses of natural and beneficial floodplain resources due to flooding. A complete summary of these strategies and pertinent background information can be found in the NFIP Floodplain Management Requirements FEMA 480 (linked below under topic details > links).