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

Levels of strategy, Levels of strategy There are three levels of strate...

Levels of strategy There are three levels of strategy: Corporate strategy is the overall (grand) strategy for the organization as a whole. Business strategy refers to

Transaction cost theory could help the head of insurance, The Head of Insur...

The Head of Insurance at JKL Bank has been considering how to make efficiencies in the operation of the Car Insurance Business Unit. One option under consideration is to outsource

Why flf should undertake competitor analysis, FLF is a courier company base...

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

Explain about the project management systems, Explain about the project man...

Explain about the project management systems. Project management systems: Each project must have a plan and a set of goals or performance measures to achieve this. Contro

When is employer not liable to pay compensation to employee, When is an emp...

When is an employer not liable to pay compensation to an employee? Compensation: An employer is not liable to pay compensation to an employee under the given circumstanc

Empowering the staff - element of tqm, Empowering the staff assists to acco...

Empowering the staff assists to accomplish optimal business results through team work. Empowerment occurs when employees are adequately trained, provided with all relevant inf

Explain techniques of pert, Explain how the techniques of PERT (Project Eva...

Explain how the techniques of PERT (Project Evaluation and Review Technique), scenario planning and buffering could be used in project management with specific reference to the tim

Outline at least three steps common to pert and cpm, QUESTION (a) Feasi...

QUESTION (a) Feasibility Study is a preliminary study undertaken before a real work of a project start what factors should the project manager take into consideration while con

Continuous improvement (Individual Assignment), I and my friend would like ...

I and my friend would like to make assignment of PPMP20009 (project management methodology) of master of project management

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