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

Search and remove modules, Seven process modules are placed on our model, a...

Seven process modules are placed on our model, and they represent the basic functions in the model. These process modules simulate important operations such as specifying wheel cha

Identify the critical path by activities and duration, Identify the critica...

Identify the critical path by activities and duration. Activity          Duration (Wks)       Preceded by A                     5                               -

Production control system, Question 1: What is understand by a producti...

Question 1: What is understand by a production control system and how are the elements of control systems categorized? Description of production control system Catego

Continuous improvement - total quality management, Do it Right First Tim...

Do it Right First Time : TQM adopt the policy of zero defect. There is no scope for rework and rejection. The right first time or zero defect is the result of an empha

Performance management report, Review assignment  and the macro map you pre...

Review assignment  and the macro map you prepared. How are your transformational processes monitored? Identify the critical success factors that are both necessary and sufficien

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

Leading lean project-Fifa Cup 2018, I want this assignment befor the due de...

I want this assignment befor the due deate of 7 sept..if some one over there than contact me.

Degree of vertical integration, Degree of Vertical Integration Vertical ...

Degree of Vertical Integration Vertical integration is the amount of production and distribution chain, from suppliers of raw materials and components to the delivery of finishe

Stages of quality cost reduction, Stages of Cost Reduction The quality ...

Stages of Cost Reduction The quality costs are the costs which are associated with preventing, finding, and correcting the defective work. These costs are vast which runs 20% -

Risk management , Introduction to Risk Management Let us begin with def...

Introduction to Risk Management Let us begin with defining Risk. Risk, is an integral part of the business scenario, and can be termed as a potential event that can have opport

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