Location models or methods, Project Management

Assignment Help:

Location Models or Methods

Factor rating system

Factor Rating System are  perhaps the most   widely used  of the  general location  techniques because they provide  a mechanism to combine diverse factors in an easy to understand format. In this method, factor ratings are used to evaluate alternative locations.

The method has the following advantages:

  1. Simplicity, which facilitates communication about why one location/ site is better than another.
  2. Enables bringing diverse location considerations into the evaluation process.
  3. Foster consistency of judgment about location alternatives.

The steps involved are:

  1. List the most relevant factor in the location decision.
  2. Rate each factor ( say from 1 for very low and to 5 for very high) according to its relative importance i, e, factor rating is given to each factor based on its importance the higher the ratings the more important is the factor.
  3. Rate each location ( say 1 for very low and to 10 for very high) according to its merits on each factor .
  4. Compute the product of ratings multiplying the factor rating by the location rating for each factor.
  5. Compute the sum of the product of ratings for each location.

Decision: Select the location alternative which has the maximum sum of the product ratings as the choice.


Related Discussions:- Location models or methods

Classical and neo-classical theory of of organisation, What are the differe...

What are the differences between classical theory and neo-classical theory of organisation? Difference between classical theory and neo-classical theory of organisation: The cl

Turn key contracts, Ask question #Miniwhat circumstances that favor turn ke...

Ask question #Miniwhat circumstances that favor turn key contracts mum 100 words accepted#

Process capability - tqm, Multiplicity of processes available for a job th...

Multiplicity of processes available for a job the selection of an appropriate process is not an easy matter. Choosing a process with over capability is as bad as choosing one w

Pm, short note on partnering

short note on partnering

Project, For each of the quadruple constraints, provide a practical descrip...

For each of the quadruple constraints, provide a practical description of the constraint as it would apply to the following new product development project: "Develop a new food sup

What is project scheduling, Question 1 Briefly explain various activities ...

Question 1 Briefly explain various activities involved in project management Question 2 What is COCOMO? Write necessary steps for cost estimation Question 3 What is proj

Project dess igne, think a project of your own and formulate a questionnair...

think a project of your own and formulate a questionnaire

Explain the fundamental quality management principles, Question: (a) Ex...

Question: (a) Explain the eight fundamental Quality Management Principles of the standard ISO 9001: 2008. (b) Explain the relevance of the various requirements in terms of M

Relationship between values and behavior, Strong organisational values, eng...

Strong organisational values, engaging vision that is inspirational for employees as well as creating a sense of involvement with effective communication channels.Organizational va

Essential pre-requisites of a grievance procedure, Problem 1: Show the ...

Problem 1: Show the essential pre-requisites of a grievance procedure. Essential pre-requisites of a grievance procedure Problem 2: What are the objectives of Trade

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd