DocumentCode :
2213933
Title :
A New Approach to Construction Project Risk Assesment Based on Rough Set and Information Entropy
Author :
Shi, Huawang ; Li, Wanqing ; Meng, Wenqing
Author_Institution :
Sch. of Civil Eng., Hebei Inst. of Eng., Handan
Volume :
1
fYear :
2008
fDate :
19-21 Dec. 2008
Firstpage :
187
Lastpage :
190
Abstract :
With the need for improved performance in the construction industry and increasing contractual obligations, the requirement of an effective risk management approach has never been more necessary. In this paper, a new approach to construction project risk assessment based on rough set and information entropy is proposed. Firstly, the construction project risk evaluation index system is established, and then the indexes are reduced with no information loss through rough set approach. Secondly, risk factor weights are qualitatively described with information entropy. Thirdly, the qualitative results are transformed to quantities value and the result of evaluation is worked out by using unascertained number algorithm. Finally, a case study was carried out on the risk assessment of a sample project using the prototype. The results show that the rough set and information entropy can help understand the uncertainties in construction risk assessment, and the relationships between risk sources and the consequences on project performance measures can be identified and quantified consistently.
Keywords :
construction industry; contracts; entropy; project management; risk management; rough set theory; construction industry; construction project risk assessment; construction project risk evaluation index system; contracts; information entropy; rough set theory; unascertained number algorithm; Construction industry; Fuzzy sets; Industrial engineering; Information entropy; Information management; Innovation management; Power system modeling; Prototypes; Risk management; Rough sets; construction project; information entropy; risk assesment; rough set;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Information Management, Innovation Management and Industrial Engineering, 2008. ICIII '08. International Conference on
Conference_Location :
Taipei
Print_ISBN :
978-0-7695-3435-0
Type :
conf
DOI :
10.1109/ICIII.2008.85
Filename :
4737524
Link To Document :
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