The World Bank’s disaster risk management (DRM) activities utilize a range of open access and open source computational modeling tools to quantify the risk posed by natural hazards. An important goal of these activities is to build capacity among national and local governments and international development professionals working in disaster risk management. A key decision in these activities is the choice of modeling tool that will be used to address the hazard, exposure, and/or risk question under consideration. This document presents an objective analysis of freely available hazard and risk modeling software in order to facilitate selection of appropriate tools for various DRM activities. There have been previous evaluations of freely available modeling tools across various natural hazards, but this is the first multi-hazard systematic review using a set of consistent criteria. The analysis covers hazard risk models for cyclone (wind), storm surge and tsunami, earthquake, and flood.