Under the UFE window, the Emergency Relief Coordinator (ERC) allocates funding to the least funded humanitarian emergencies. Twice a year, the CERF secretariat dentifies the most underfunded emergencies to support lifesaving humanitarian action in these forgotten places. Both qualitative, contextual information and an analysis of quantitative data on funding, severity, risk and vulnerability underlie the identification of these crises. The information is collected during a consultation process and from established data sources. This document describes the methodology that underpins the funding, risk and vulnerability analysis. (A separate CERF UFE Guidance Note describes the consultation process in detail.) Changes for the first round in 2018 mainly focused on the funding analysis for Humanitarian Response Plan countries, as CERF has taken into account the different costing arrangements per appeal – project based, cluster requirements, activity based costing and other. Additionally, to avoid inconsistencies between the UCDP/PRIO and the Crisis Group datasets, countries with no prior and ongoing conflict as indicated by the UCDP are only assigned half of the Crisis Group score. Through this adaption countries with ongoing conflict are elevated. The methodology is described in detail in this document and the data will be shared with stakeholders and published on the CERF website, to ensure transparency and reproducibility.