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

What is organizational culture, Question: (a) What is organizational c...

Question: (a) What is organizational culture? (b) What are the two major characteristics of parent organization that affect Projects? (c) Identify and Explain the dif

Explain what is a breakthrough, Question: (a) Joseph Moses Juran, the f...

Question: (a) Joseph Moses Juran, the famous quality management consultant, put forward the concept of breakthrough sequence. (i) Explain what is a breakthrough. (ii)With

International quality certification, The international organization for s...

The international organization for standardization ( ISO) is the specialized international agency for standardization and at present comprises the national bodies of 91 c

Illustrate the examples of work and cost breakdown structure, Illustrate th...

Illustrate the examples of Work and Cost breakdown structure, which can aid budgeting planning? Illustrations of how WBS or CBS can aid budgeting planning: • Staff hours for

Processes by market orientation , Processes by Market Orientation Pro...

Processes by Market Orientation Processes can  also be categorized on the basis  of four  marker orientations: Make to Stock (MTS): the goods usually are standard mat

Equity valuation, a) Provide a detailed evaluation of an equity investment ...

a) Provide a detailed evaluation of an equity investment decision in the current economic climate. Your briefing should include: i)  A review of the 'top-down' analysis tha

Elements of total quality management, ELEMENTS OF TOTAL QUALITY MANAGEMENT ...

ELEMENTS OF TOTAL QUALITY MANAGEMENT (TQM): The philosophy of Total Quality Management is based on understanding customer needs and improving customer service and satisfaction

Project cycle time optimisation, C y c le Time Optimisation Cycle ti...

C y c le Time Optimisation Cycle time optimisation is an operating philosophy of maximising the efficiency of the sub optimal value-added activities while reducing the non-

Strategic Procurement and SCM, determine the most significant changes that ...

determine the most significant changes that have occurred in procurement in the last few years and what this means for your organization or an organization of your choice.

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