Title :
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
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;
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
DOI :
10.1109/ICIEEM.2011.6035104
