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

Caselet, what are the objective of the project alignment session program?

what are the objective of the project alignment session program?

Whole healing system and modality, 1)  Compare your chosen Whole Healing Sy...

1)  Compare your chosen Whole Healing System and Modality by considering: a)  When and by who were they 'invented'? b)  How have the therapies changed over time? c)  What

Calculate the elapsed time of the critical path project, Calculate the elap...

Calculate the elapsed time of the critical path project when A Critical path of ACDEFGIJ is given below and the elapsed time of the project is 25 weeks. Th

Barriers to implementing tqm, BARRIERS TO IMPLEMENTING TQM: The implem...

BARRIERS TO IMPLEMENTING TQM: The implementation of TQM in library organisations provides an opportunity to update and enhance the abilities of the staff to work effectively,

Project communication management processes, Question: (a) The greatest ...

Question: (a) The greatest threats to many projects are failures to communicate effectively. (i) Elaborate on the Project Communication Management processes (ii) Briefly

Describe incremental approach to orderly acceptance testing, Describe the i...

Describe the incremental approach to orderly acceptance testing. Acceptance test: The users are invited to perform an acceptance test to check which what they have asked

Project risk custodians , Project risk custodians  The quality risk fun...

Project risk custodians  The quality risk function is carried out by the project risk custodians. The responsibility of project risk custodians is to:    Integrate all po

What are the benefits of work study?, Question 1) Describe any ten overall...

Question 1) Describe any ten overall functions of the purchasing department Question 2) Describe any five principles of plant layout Question 3) Describe the any

Project management the managerial process, Are you able to assist with assi...

Are you able to assist with assignments mid terms finals at a masters level

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