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

Product development tools, Qualities by design tools that decrease tota...

Qualities by design tools that decrease total product development time utilize high powered software and the latest in desktop computers. The primary qualities by design to

What is the purpose of the post completion review, What is the purpose of t...

What is the purpose of the post completion review? The purpose of a PC (post completion) review: • Assist continuous improvement for example review procedures to design bett

How is risk management assist in project management software, How is risk m...

How is risk management assist in project management software? Risk management: Project management software will assist manage the sheer complexity of managing funds and tools,

Relationship-reporting arrangements of manager with sponsor, What type of r...

What type of relationship and reporting arrangements must the project manager have with the sponsor? The sponsor of a project shows the management of the organisation which com

Develop a project concept, • Develop a project concept. Find a stakeholder ...

• Develop a project concept. Find a stakeholder who will act as sponsor for the project. Outline the business problem that the system is intended to address, and establish an initi

Principal problems of managing projects in organisation, What are the princ...

What are the principal problems of managing projects in a fully functional organisation structure? The major problems of functional organisations are to perform with what may b

Important role that the corporate level strategy, Strategy is developed at ...

Strategy is developed at different levels in large organisations. The process starts with the corporate strategy which is then translated into the strategy for the business divisio

RESEARCH PROJECT, #question:QUESTIONNAIRE ON CUSTOMER ATTITUDE TOWARDS TELE...

#question:QUESTIONNAIRE ON CUSTOMER ATTITUDE TOWARDS TELECOM SERVICES..

What are the disadvantages of bottom-up decentralised, What are the disadva...

What are the disadvantages of bottom-up decentralised approaches? Project budgets can be imposed by using bottom-up that is decentralised approaches for example project manager

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