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

Show the product formulation, Q. Show the product formulation? One shou...

Q. Show the product formulation? One should also see the kind of infrastructure available in the laboratory and use the techniques which can be easily standardized for example,

Selection criteria for process layout, Normal 0 false false ...

Normal 0 false false false EN-IN X-NONE X-NONE

Initiation, How to initiate a project

How to initiate a project

Types of mechanical hazards, Probelm: (a) Identity the several types o...

Probelm: (a) Identity the several types of mechanical hazards associated with the use of bench -mounted grinder. (b) Outline the FOUR main categories of guards and safegu

Cost benefit analysis, How to determine which project have larger net benef...

How to determine which project have larger net benefit between two projects

Factors affecting process design - degree of automation, Factors affecting ...

Factors affecting Process Design - Degree of Automation The degree of automation  to be  adopted and  integrated into the  production  system is a key issue in process design,

Stakeholder management, 3. What are some ways to manage a stakeholder rela...

3. What are some ways to manage a stakeholder relationship closely? Give examples of how you might manage relationships differently based on the unique personalities of different

Project sceening, explain the reason for the divergence of opinion from one...

explain the reason for the divergence of opinion from one technique to the next?

System and simulation specifications, Input Data Collection The input d...

Input Data Collection The input data for the model was collected accurately to be as close as possible to a typical emergency room. We expected that the number of patients comi

Describe what is involved in benchmarking, FLF is a courier company based i...

FLF is a courier company based in Z Country which presents direct document and parcel express delivery services for commercial customers. It prides itself not only on its reliabili

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