• DocumentCode
    2602257
  • Title

    Risk integrated assessment of the project schduel and cost based on maximun entropy and the random network

  • Author

    Hua, Wang ; Li-ming, Zhao ; Yun-gang, Wang

  • Author_Institution
    Sch. of Manage., Tianjin Univ., Tianjin, China
  • fYear
    2010
  • fDate
    24-26 Nov. 2010
  • Firstpage
    247
  • Lastpage
    251
  • Abstract
    During the construction process, the project schedule 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.
  • Keywords
    PERT; construction industry; cost optimal control; maximum entropy methods; probability; production control; risk analysis; GERT; information entropy; maximum entropy principle; probability density function; project cost control; project risk management; project scheduling; random network theory; risk integrated assessment; Biological system modeling; Entropy; Modeling; Presses; Probability density function; Random variables; Schedules; GERT; maximun entropy; project schedule; random network; risk; the information entropy;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Management Science and Engineering (ICMSE), 2010 International Conference on
  • Conference_Location
    Melbourne, VIC
  • ISSN
    2155-1847
  • Print_ISBN
    978-1-4244-8116-3
  • Type

    conf

  • DOI
    10.1109/ICMSE.2010.5719812
  • Filename
    5719812