Simplify Savings Design Presentation Jacob Berlin, Travis Reid, - - PowerPoint PPT Presentation

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Simplify Savings Design Presentation Jacob Berlin, Travis Reid, - - PowerPoint PPT Presentation

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Simplify Savings Design Presentation Jacob Berlin, Travis Reid, Miranda Smith, Kele McKaig, Jon Buckner, Chevelle Sakyi Gold Group CS 410, Old Dominion University 17 November 2016 Team Gold Jacob Berlin Travis Reid Miranda Smith Kele

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Simplify Savings

Design Presentation Jacob Berlin, Travis Reid, Miranda Smith, Kele McKaig, Jon Buckner, Chevelle Sakyi

Gold Group CS 410, Old Dominion University 17 November 2016

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Team Gold

2 Jacob Berlin Travis Reid Miranda Smith Kele McKaig Jon Buckner Chevelle Sakyi

Old Dominion University, CS 410, Gold, 17-November-2016

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Mentor

Charlotte Donnell

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Old Dominion University, CS 410, Gold, 17-November-2016

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Outline

  • Societal Problem
  • Identification and Analysis of Customer Base
  • Design Approach
  • Current Process Flow
  • Our Objectives to Modify the Current

Process Flow

  • Modified Process Flow
  • Major Functional Requirements
  • Competition Matrix
  • Development Approach
  • Hardware and Software Requirements
  • Development Tools

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Old Dominion University, CS 410, Gold, 17-November-2016

  • Software Details and Logical Approach
  • WBS
  • Site Map
  • Homepage Mockup
  • Example Module Mockup
  • Algorithms
  • Risk Analysis
  • Risk Matrix
  • Technical Risks
  • Consumer Risks
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What is the problem?

American individuals of working age do not prepare adequately for retirement due to lack of long term financial knowledge (e.g. points of contact, investment opportunities and their mechanics).

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Old Dominion University, CS 410, Gold, 17-November-2016

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Identification & AnaLysis of Customer

  • Working age Americans
  • Financially inexperienced
  • 65% of Americans are financially inexperienced, unable to answer

three simple financial questions (Lusardi & Mitchell, 2011)

  • Understanding of Interest Rate
  • Understanding of Inflation
  • Understanding of Risk Diversification

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Old Dominion University, CS 410, Gold, 17-November-2016

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Design Approach

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Old Dominion University, CS 410, Gold, 17-November-2016

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Process Flow for problem in customer Domain

Old Dominion University, CS 410, Gold, 17-November-2016

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(Munnell, 2009)

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Solution Design:Project Goals & Objectives

Teach people about saving.

Interaction ‘Gamification’ Buzzwords - ‘ User Friendly ;) ’

That’s all folks. Accounts, teaching structure, remembering scores, etc...

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Old Dominion University, CS 410, Gold, 17-November-2016

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The simplify savings solution

Old Dominion University, CS 410, Gold, 17-November-2016

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(Munnell, 2009)

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Major Functional Component Diagram

  • Users connect to the

Internet using their prefered device.

  • Our dedicated

website will provide a database to all information related to saving for retirement

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Old Dominion University, CS 410, Gold, 17-November-2016

Users consist of Admin and Learners Devices with Access to the Internet Dedicated Website for Simplify Savings Database for all Data Related to Retirement Savings Implemented on Server

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Competition Matrix

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Financial Education Tool Provides a Comprehensive Retirement Education Provides A Personalized Financial Plan Does Not Assume Previous Financial Knowledge Low Cost Simplify Savings

X X X X

FDIC Money Smart

X X X

RetirePlan

X X X

Retirement plans 401k IRA roth

X X X

High Cost Classes

X X X

Old Dominion University, CS 410, Gold, 17-November-2016

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Development Approach

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Old Dominion University, CS 410, Gold, 17-November-2016

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Hardware & Software requirements

If we don’t require it, say that we don’t

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Old Dominion University, CS 410, Gold, 17-November-2016

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What will it use?

  • Web browser
  • CSS/JavaScript template framework
  • JavaScript Visualization framework
  • Manual content collection
  • Minimal server side processing

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Software Details & Logic Approach

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Old Dominion University, CS 410, Gold, 17-November-2016

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Work Breakdown Structure

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Site Map

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HomePage Mockup

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Old Dominion University, CS 410, Gold, 17-November-2016

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Example Module Mockup

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Old Dominion University, CS 410, Gold, 17-November-2016

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Algorithms

When we have some...

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Risk Analysis

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Risk Matrix

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Old Dominion University, CS 410, Gold, 17-November-2016

  • What the colors

mean

  • What the Notation

means

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Technical Risks

Technical Risks T1: Little or no API support for data T2: API is costly T3: API source shuts down T4: Time constraints related to learning new APIs T5: Unexpected Personnel Changes Technical Risk Mitigation T1: Find credible sources for information T2: Search for third party project funding T3: Choose a high profile API T4: Independent skills training and practice T5: Schedule for the same CS 411W course 24

Old Dominion University, CS 410, Gold, 17-November-2016

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Consumer Risks

Customer Risks C1: Information not present at a sufficient level

  • f detail

C2: Information present with too much detail C3: Information from unreliable source C4: Customer possesses low technical expertise Customer Risk Mitigation C1 & C2: Beta Testing and customer surveys C3: Using a credible API C4: Creating a help section and tutorial 25

Old Dominion University, CS 410, Gold, 17-November-2016

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The Wrap Up

  • Societal Problem
  • Identification and Analysis of Customer Base
  • Design Approach
  • Current Process Flow
  • Our Objectives to Modify the Current

Process Flow

  • Modified Process Flow
  • Major Functional Requirements
  • Competition Matrix
  • Development Approach
  • Hardware and Software Requirements
  • Development Tools

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Old Dominion University, CS 410, Gold, 17-November-2016

  • Software Details and Logical Approach
  • WBS
  • Site Map
  • Homepage Mockup
  • Example Module Mockup
  • Algorithms
  • Risk Analysis
  • Risk Matrix
  • Technical Risks
  • Consumer Risks
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References

  • 1. Rhee, N. (2013). The Retirement Savings Crisis. Washington DC: National

Institute on Retirement Security.

  • 2. Lusardi, A., & Mitchell, O. S. (2011). Financial literacy and retirement planning

in the united states. Journal of Pension Economics & Finance, 10(4), 509-

  • 525. doi:http://dx.doi.org.proxy.lib.odu.edu/10.1017/S147474721100045X
  • 3. Lusardi, A. (2004, January 9). Saving and the Effectiveness of Financial
  • Education. SSRN Electronic Journal SSRN Journal. doi:10.2139/ssrn.476022
  • 4. Munnell, A., & Webb A., & Golub-Sass, F. (2009). The National Retirement

Risk Index: After the Crash. Center for Retirement Research.

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Old Dominion University, CS 410, Gold, 17-November-2016