Entropy application to improve construction finance decisions

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.

Critical Mass: Sermon for the Church of the Atom (part of A Theatre to Address at Arnolfini, Bristol and Late at Tate Britain)

A Theatre to Address explores the work of contemporary artists who use text as both a visual and sonic form. In this programme, text appears not primarily as a means of communication, but as something which has shape and structure of its own. The Reading Room will also be displaying work that looks at text as concrete or visual poetry, and the script in artists' practice. Clare Gasson presents a new work The traveller - walking walking walking through ... that explores the connection between the text, the rhythm and the action. Maryam Jafri presents a performance-lecture Death With Friends, a body of visual and textual material that forms the basis for her new film of the same name. Pil and Galia Kollectiv present a radical worship for the apocalypse, featuring a sermon for the Church of the Atom with live music by Gelbart.