Application of fuzzy comprehensive evaluation method based on entropy to evaluation risk of an EPC project

Author

Bi, Xing ; Wang, Guo-liang

Author_Institution

Sch. of Manage., Tianjin Univ., Tianjin, China

Volume

Part 1

fYear

2011

fDate

3-5 Sept. 2011

Firstpage

55

Lastpage

58

Abstract

Recently, more and more big projects are contracting by EPC (Engineer-Procure-Construct) mode. Comparing with traditional contract modes, the general contractors face more risks. In this paper, a method of fuzzy comprehensive evaluation method based on entropy is used to evaluate the risks in EPC projects, building a risk evaluation model. Moreover, the modified normalization method has been used, so the evaluation result is more scientific and reasonable. The result shows that fuzzy comprehensive evaluation method based on entropy is feasible and has some application value in the practice.

Keywords

civil engineering; entropy; fuzzy set theory; procurement; project management; risk management; EPC project; engineering-procurement-construction; entropy; evaluation risk; fuzzy comprehensive evaluation method; normalization method; Bismuth; Buildings; Contracts; Entropy; Indexes; Mathematics; Risk management; EPC; entropy weight; fuzzy comprehensive evaluation method; risk evaluation;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management (IE&EM), 2011 IEEE 18Th International Conference on

Conference_Location

Changchun

Print_ISBN

978-1-61284-446-6

Type

conf

DOI

10.1109/ICIEEM.2011.6035104

Filename

6035104