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

Project cost management, Your project sponsor has asked you and your team t...

Your project sponsor has asked you and your team to refine the existing cost estimate for the project so that there is a solid cost baseline for evaluating project performance. Rec

Second elaboration iteration, Perform a status assessment of the second Ela...

Perform a status assessment of the second Elaboration iteration. DO NOT GENERALISE. Assess each activity separately against the outcomes specified for the activity. Generate a deta

Answer, summarise the argument for such a policy of partnering with a major...

summarise the argument for such a policy of partnering with a major supplier such as BAA and MACE HAVE DON HERE

Professional boundaries, An enrolled nurse has been assigned to care for a ...

An enrolled nurse has been assigned to care for a close relative who she cares for deeply who has been admitted to hospital with chest pain.  Nobody knows that this patient is rela

What is the rationale behind the concept of earned value, Question: (a)...

Question: (a) What are the checks/actions to be carried out in a project monitoring meeting? (b) What is the rationale behind the concept of "earned value" in project moni

Project management requires three important activities, Question (a) Pr...

Question (a) Project Management requires three important activities, namely planning, estimation and scheduling. Discuss the differences between them. (b) Scheduling of proj

Critical path, Critical Path about wedding planning

Critical Path about wedding planning

Projectplanning, #question.what is project planning.

#question.what is project planning.

Develop an action plan based on your findings, Question: As a newly app...

Question: As a newly appointed rector of your school, you have received many complaints from students .It is your aim to " democratise quality ", that is to make quality contro

What do you mean by improving productivity, What do you mean by Improving P...

What do you mean by Improving Productivity? Improving Productivity: The concentrate of production is creation of goods, might be by the transformation of raw materials or

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