The Project “MARVASTO” (“Risk Management inValparaíso/Manejo de Riesgos enValparaíso, Servicios Técnicos”) started in March 2007. It is managed by ENEA, with the participation of Italian and Chilean partners and the support of local stakeholders. Being the city declared patrimony of the humanity by UNESCO since 2003, the goals of the project are the following: to evaluate the impact of main hazards (earthquake, tsunami, fire, and landslide); to provide a vulnerability analysis for three historical churches (San Francisco, Las Hermanitas de la Providencia, La Matríz, made by various materials – masonry, concrete, wood and adobe – and located in different city sites) and for a pilot building stock in the Cerro Cordillera historical area, analyzing more than 200 constructions; to suggest guidelines for future urban planning; to develop a GIS digital archive, well organized, user-friendly and easy to be implemented in the future, providing maps and scenarios of specific and multiple risk. In the paper, preliminary results are given, taking into account the in situ work of two missions at Valparaíso (May and October–December 2007).