Risk Integrated Assessment of the Project Progress and Cost Based on Entropy and the Random Network

During the construction process, the project progress would be affected by the various indeterminate factors inevitably, which may cause increased risk of engineering postpone or difficulty in cost control. Maximum entropy principle was introduced into project risk management by studying information entropy and random network theory, which was applied in project schedule and cost control. And it was analyzed in entropy theory´s angle. The combined risk control model was established based on the principles of maximum entropy and GERT, and the probability density function of construction period was obtained by this model. Then probability density function of the cost was derived and completion rate in the required time was obtained by the model. And last through a case study prove that the entropy theory has the good function and maneuver abilities in work project control with the software programming and provide a new method for the progress and the cost control.