In: Hermelín A., Michel, ed. Memorias. Medellín, Antioquia. Universidad EAFIT, Jul. 1992. v.1. v.1. Presentado en: Simposio Latinoamericano de Riesgo Geológico Urbano, 2; Conferencia Colombiana de Geología Ambiental, 2; Pereira, 15-18 jul. 1992. The calculate the potential losses that can be caused by an earthquake is a difficult but essential task in orden to stimulate and guide the risk mitigation actions. The purpose of this project is to propose a methodology to calculate the damage and losses caused by an earthquake in a city, so that the local and regional authorities be able to define preparedness actions for response in a seismic disaster, urban development planning and formulationof short and long term risk reduction strategies. Several methods with different detail and scope level have been proposed for the evaluation of vulnerability and seismic risk at international level. The selection of the methodology for this project was based upon resource availability and acuracy needs in accordance with the type of decisions that may be taken at local and regional level. It can be said that the essential criteria for its development was based upon credible and demonstrable results useful to make practical decisions, with the purpose of promoting resource allocation to execute studies with greater scope and precision. This document ilustrate a methodology for vulnerability and risk evaluation in masonry housing of one and two floors, in terms of economic and life losses, with the city of Pereira as scenario (AU). / PEREIRA / RISARALDA