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Study and Application of Grey Entropy Weight Decision Making in Risk Management Cover

Study and Application of Grey Entropy Weight Decision Making in Risk Management

By: DeYu Kong,  Lu Liu,  Rui Miaoi and  Lu Yin  
Open Access
|Mar 2009

Abstract

In traditional risk evaluation, the weight of a risk index is given in advance, so it lacks objectivity. Using weights and properties generated by entropy concepts, including the idea of information entropy, the comprehensive weight, which can be combined with entropy weight, is calculated. A grey evaluation model of a project risk evaluation index based on comprehensive entropy weight is built. Further, we present empirical research on a real project, which indicates that this approach calculates easily, gives weight scientifically, and provides evaluation accurately.
DOI: https://doi.org/10.2481/dsj.7.171 | Journal eISSN: 1683-1470
Language: English
Published on: Mar 5, 2009
Published by: Ubiquity Press
In partnership with: Paradigm Publishing Services
Publication frequency: 1 issue per year

© 2009 DeYu Kong, Lu Liu, Rui Miaoi, Lu Yin, published by Ubiquity Press
This work is licensed under the Creative Commons Attribution 4.0 License.