The quantification of probable network-related consequences resulting from the occurrence of (natural) hazard events supports network managers in determining the most suitable interventions to execute. This assessment should include the modelling of consequences related to the use of the network and the levels of service. A method is presented to quantify the temporal functional capacity losses of the individual objects of which networks are comprised due to hazard events to ultimately support the estimation of consequences at a network level. The method is designed to handle the effects of (i) time-varying hazards, (ii) multiple hazards, (iii) functional capacity losses that are independent of (structural) physical capacity losses and (iv) functional capacity losses that demand preventive interventions. An example demonstrates how the functional capacity losses of objects in a road network change over time as rainfall-triggered flood and mudflow events, inspection events and restoration events occur.