This study focused on the modification and application of Costing Model (CM) and it developed anEvent Impact Rapid Assessment and Disaster Scaling (EIRADS) calculator. To check the workability, the calculator wasapplied to an incident that happened at Cherry Hills Subdivision, Antipolo, Philippines. The application yielded the TotalDamage Cost of the Event (TDCE) at US$ 5,244,483.00. The event was categorized as Major Disaster at Barangay level.Thus, provided decision makers and technical experts a platform to assimilate available resources from related agenciesthat could eventually lead to efficient, effective and economical Disaster Risk Management (DRM).