Location models or methods, Project Management

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.

Posted Date: 1/11/2013 7:04:13 AM | Location : United States







Related Discussions:- Location models or methods, Assignment Help, Ask Question on Location models or methods, Get Answer, Expert's Help, Location models or methods Discussions

Write discussion on Location models or methods
Your posts are moderated
Related Questions
Flexible Manufacturing System FMS (Flexible manufacturing system) is a computer controlled system. It consists of several stations each geared to different operations. Work st

Organisational Structures The project organisational structure facilitates coordination and implementation of project activities. It should be designed to include the essential

Internal Factors Strengths Strengths of the Syringe management plan are to increase people's manner to use the syringe. Secondly it would reduce the injury of needle ar

Solution-if I am the owner of the three coffee shops within a 50 mile radius, then I would adopt a de-centralized management model having self directed teams. This will help me in


What are included in the privatisation of public sector undertakings? Privatisation of public sector undertakings: It is consisting of witnessed the trend toward opening

Business losses per defect that happens during operation Business interruption costs; costs of work-arounds Lost sales and lost goodwill Litigation costs resulting from de


compare cobit 4.1 with cobit 5

Performance measurement: Performance measurement needs to be based upontimely measures of, and feedback on, performance. It provides information ontoday's service and gives an