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

Internal external factors influence organisational culture, Internal and ex...

Internal and external factors influence the organisational culture Culture facilitates internal integration and harmony as well as external adaptation according to environmental

Steps of process planning procedure , Steps of Process Planning Procedure ...

Steps of Process Planning Procedure Step 1 Selection of Process: A process is necessary in order to shape form condition and join materials and components with the help of mac

Customer orientation - total quality management, IT is the ultimate goal...

IT is the ultimate goal in TQM and thus forms the focal element in TQM. The company should exceed the customer expectations and make him delighted. This means giving

Control charts, C ontrol charts Control  charts  are  tools  used  for...

C ontrol charts Control  charts  are  tools  used  for  monitoring,  controlling  and  improving processes over time. These are applicable to administrative processes.

Communication-coordination beneficial in project management, How are commun...

How are communication and coordination beneficial in project management software? Communication and coordination: Project software can give automatic report templates al

Advantages and disadvantages of a matrix project structure, C Consultancy C...

C Consultancy Company gives management consultancy to a range of organisations.  It employs staff who have dissimilar industry backgrounds and who also offer dissimilar specialisms

Project closure, Project Closure   Project closure is the last stage of ...

Project Closure   Project closure is the last stage of the Project Life Cycle. The beginning of the Project Closure Phase is analysed by the completion of all project objectives

Determine the best practices apply to project implementation, The objective...

The objectives of assignment are to determine what best practices apply to project implementation and close out, and to apply your individual knowledge of the quantitative topics t

Developing a Proposal, Your first assignment is to complete a Project Prop...

Your first assignment is to complete a Project Proposal. You are expected to produce a thorough and professional treatment of every element of the deliverable. The page length asso

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