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Vol. 172, Issue 6, June 2014, pp. 301-307

 

Bullet

 

The Application of Information Entropy Theory in Project Evaluation
Based on Multiple Attribute Decision Making Context
 

Zhu Weidong, Liu Jingyu

School of Management, Hefei University of Technology, Hefei 230009, China
Tel.: +86 13856910177

E-mail: 13856910177@163.com

 

Received: 8 May 2014 /Accepted: 9 June 2014 /Published: 30 June 2014

Digital Sensors and Sensor Sysstems

 

Abstract: Taking the new product line project of company X for example, the approach based on information entropy theory is utilized to test the effectiveness, robustness and applicability of the method. Based on the computation results, the evaluation scores of alternative seven plans is 0.7468, 0.5444, 0.6266, 0.8059, 0.6274, 0.5546 and 0.5983. The optimal choice for mangers to choose is plan 4. The results indicate that all works can be done by simple computation, the effectiveness is proved; and the order based on the comprehensive scores is in line with the actual situations, which proves the robustness of the approach significantly; and then combining the two aspects above, the applicability of the applied approach is demonstrated significantly.

 

Keywords: Entropy weighted approach, Project evaluation, Multiple attribute, Decision making.

 

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