Participatory research approaches are increasingly admired by academic researchers and development institutions, facilitating change in partnership with local communities. The present paper deals with the concept of Community-Based Disaster Management (CBDM) and explain the impacts and community's perception regarding different hazards. In the present paper, researchers tried to demonstrate an approach to identifying and assessing threats in Uttarakhand's Talla Johar valley. The prime focus of this paper is on flooding, landslide, soil erosion, and forest fire, etc. This paper assesses hazard risks with local participation and compile the understanding of various disaster attributes based on risk assessment.