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

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2 Author(s)
Xing Bi ; Sch. of Manage., Tianjin Univ., Tianjin, China ; Guo-liang Wang

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.

Published in:

Industrial Engineering and Engineering Management (IE&EM), 2011 IEEE 18Th International Conference on  (Volume:Part 1 )

Date of Conference:

3-5 Sept. 2011