Shannon entropy weighting technique as a practical weighting decision-making tool in project management

Alireza Moarefi, Rateb J. Sweis, Seyyed-Mahmoud Hoseini-Amiri and Wassim A. AlBalkhy

International Journal of Management Concepts and Philosophy, 2018, vol. 11, issue 4, 377-392

Abstract: The decision-making process in projects needs various qualitative and quantitative techniques to make reliable decisions. This study proposes a technique based on multi attributes decision making (MADM) and Shannon entropy weighting technique (S.E.W.T) to prioritise the elements of the iron triangle; cost, time, and quality, in three different sectors: construction, steel, and transportation. Even though the presence of S.E.W.T was insignificant in project management during the last decade, this study tries to refresh this technique as a critical decision tool in projects. This technique could benefit task managers and others making everyday decisions during project execution and design. This is not a comparative study between S.E.W.T and other MADMs, but a study in which the use of S.E.W.T as a weighting decision-making tool for project analysts is expanded, as it need fast and reliable decision-making tools.

Keywords: Shannon entropy weighting technique; S.E.W.T; multi attribute decision making; project management. (search for similar items in EconPapers)
Date: 2018
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