This study aims to assess the effectiveness of the flood risk management system in Addis Ababa, particularly focusing on Akaki Kality Sub City. To archive, this objective descriptive case study and mixed approach are employed to gather data. Semi-structured interviews, observation, and household surveys are deployed to collect data.138 experts and 46 household samples are drawn randomly. The qualitative approach was used in order to gain a deep understanding of flood risk management: its practices, systems, and collaboration among institutions to reduce flood hazards. Five interviewees were interviewed until the point of saturation. Directors, coordinators, team leaders, and experts from AADRMC, NDRMC, and Akaki Kality DRM bureau were interviewed since they have adequate knowledge about the issue. Semi-structured KII and document review were data instruments employed for data collection. The quantitative approach was used to incorporate various technical methods including GIS technologies. Surveys were carried out from both experts and households. This is because it is more effective to look at the views of the community and experts to find out what flood management looks like. The study has the following major findings: first, the flood hazard map of the sub-city indicates that around 91% of the total area of Akaki Sub-city is very high to moderate level of flood hazards and all 11 Woredas of the Akaki Sub City are vulnerable for floods. Second, there is evidence that the flood hazard mitigation and preparedness stage still have many problems. As a result, floods are occurring frequently in Addis Ababa city. The flood risk management practice is moderately effective. There is an effective emergency response and has some improvement on an early warning. Thirdly, there is a lack of FRM mainstreaming in the institution's plan and day-to-day activities. Addis Ababa Disaster Risk Management Commission does not have the legal power to enforce other institutions to work collaboratively with them. Fourth, there is also no entity and a separate policy for flood risk management. The study recommends that flood risk management systems should focus on improving activities under prevention and mitigation cycles to decrease flood hazards. Flood risk management activities should be taken into account to enhance the role of institutions in FRM in Addis Ababa and adopt FRM laws that enforce other institutions to do their responsibilities by taking into account flood hazard mitigations.