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

NETWORK DIAGRAMS, AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROB...

AHOW TO FIND THE VARIANCE OF AN ACTIVITY AND THE THE PROBABILTY THAT A WORK WILL BE FINISHED IN A GIVEN NUMBER OF DAYSsk question #Minimum 100 words accepted#

Work breakdown structure, Work breakdown structure: The work breakdown ...

Work breakdown structure: The work breakdown structure, as its name suggests, represents an organised and logical break down of the project into its component parts. Thus break

Supplier quality system, Supplier Quality System For important purchase...

Supplier Quality System For important purchases, ensuring acceptable supplier quality is critical. Conducting supplier quality audit is one of the steps in making sure the sele

What planning concerns in project management, Question 1: Harvey Maylor...

Question 1: Harvey Maylor discusses a ‘generic' life cycle to help in project management. Explain what is meant by project life cycle and critically discuss the benefits that

Define product mix, Problem Define Product mix. Explain the factors det...

Problem Define Product mix. Explain the factors determine the decisions of the Product mix. Factors: Expansion of Product mix Contraction of Product mix Alteration

Define how you would estimate the quality control, Define how you would est...

Define how you would estimate the quality control and familiarisation activity. Quality control can be added like a percentage on top of all 'doing' activity like creating prog

Quantitative layout analysis - travel chart, Quantitative Layout Analysis -...

Quantitative Layout Analysis - Travel Chart A basic tool that is primarily used to analyze the material handling cost or in certain cases number of moves in a process layout i

Explain the levels of conventional planning, Question: (a) A team is ...

Question: (a) A team is any group of persons organised to work together or interdependently in order to cooperatively meet the needs of their customers by accomplishing a pu

Operating characteristic curve, O perating characteristic curve The op...

O perating characteristic curve The operating characteristic curve for a sampling plan quantifies the risks. The OC curve for an attribute plan is a graph of the percentage de

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