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Cleveland, T G and Fashokun, A (2006) Construction-Associated Solids Loads with a Temporary Sediment Control BMP. Journal of Construction Engineering and Management, 132(10), 1122–5.

Doğan, S Z, Arditi, D and Günaydın, H M (2006) Determining Attribute Weights in a CBR Model for Early Cost Prediction of Structural Systems. Journal of Construction Engineering and Management, 132(10), 1092–8.

Kassab, M, Hipel, K and Hegazy, T (2006) Conflict Resolution in Construction Disputes Using the Graph Model. Journal of Construction Engineering and Management, 132(10), 1043–52.

Lapinski, A R, Horman, M J and Riley, D R (2006) Lean Processes for Sustainable Project Delivery. Journal of Construction Engineering and Management, 132(10), 1083–91.

Na, L J, Ofori, G and Park, M (2006) Stimulating Construction Innovation in Singapore through the National System of Innovation. Journal of Construction Engineering and Management, 132(10), 1069–82.

Perng, Y, Juan, Y and Chien, S (2006) Exploring the Bidding Situation for Economically Most Advantageous Tender Projects Using a Bidding Game. Journal of Construction Engineering and Management, 132(10), 1037–42.

Spielholz, P, Davis, G and Griffith, J (2006) Physical Risk Factors and Controls for Musculoskeletal Disorders in Construction Trades. Journal of Construction Engineering and Management, 132(10), 1059–68.

Srour, I M, Haas, C T and Borcherding, J D (2006) What Does the Construction Industry Value in Its Workers?. Journal of Construction Engineering and Management, 132(10), 1053–8.

Tang, C M, Leung, A Y and Lam, K C (2006) Entropy Application to Improve Construction Finance Decisions. Journal of Construction Engineering and Management, 132(10), 1099–113.

  • Type: Journal Article
  • Keywords: Decision making; Entropy; Financial management; Fuzzy sets; Weighing devices;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2006)132:10(1099)
  • Abstract:
    In financial decision-making processes, the adopted weights of the objective functions have significant impacts on the final decision outcome. However, conventional rating and weighting methods exhibit difficulty in deriving appropriate weights for complex decision-making problems with imprecise information. Entropy is a quantitative measure of uncertainty and has been useful in exploring weights of attributes in decision making. A fuzzy and entropy-based mathematical approach is employed to solve the weighting problem of the objective functions in an overall cash-flow model. The multiproject being undertaken by a medium-size construction firm in Hong Kong was used as a real case study to demonstrate the application of entropy. Its application in multiproject cash flow situations is demonstrated. The results indicate that the overall before-tax profit was HK$ 0.11 millions lower after the introduction of appropriate weights. In addition, the best time to invest in new projects arising from positive cash flow was identified to be two working months earlier than the nonweight system.

Yiu, T W, Cheung, S O and Mok, F M (2006) Logistic Likelihood Analysis of Mediation Outcomes. Journal of Construction Engineering and Management, 132(10), 1026–36.

Yu, J, Lee, H and Kim, W (2006) Evaluation Model for Information Systems Benefits in Construction Management Processes. Journal of Construction Engineering and Management, 132(10), 1114–21.