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

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 McKaig Jon Buckner Chevelle Sakyi 2 Old Dominion University, CS 410, Gold, 17-November-2016

Mentor Charlotte Donnell 3 Old Dominion University, CS 410, Gold, 17-November-2016

Outline • • Societal Problem Software Details and Logical Approach • • Identification and Analysis of Customer Base WBS • • Design Approach Site Map • • Current Process Flow Homepage Mockup • • Our Objectives to Modify the Current Example Module Mockup • Process Flow Algorithms • • Modified Process Flow Risk Analysis • • Major Functional Requirements Risk Matrix • • Competition Matrix Technical Risks • • Development Approach Consumer Risks • Hardware and Software Requirements • Development Tools 4 Old Dominion University, CS 410, Gold, 17-November-2016

American individuals of working age What is the problem? do not prepare adequately for retirement due to lack of long term financial knowledge (e.g. points of contact, investment opportunities and their mechanics). 5 Old Dominion University, CS 410, Gold, 17-November-2016

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

Design Approach 7 Old Dominion University, CS 410, Gold, 17-November-2016

Process Flow for problem in customer Domain (Munnell, 2009) 8 Old Dominion University, CS 410, Gold, 17-November-2016

Solution Design:Project Goals & Objectives Teach people about saving. Interaction ‘Gamification’ Buzzwords - ‘ User Friendly ;) ’ That’s all folks. Accounts, teaching structure, remembering scores, etc... 9 Old Dominion University, CS 410, Gold, 17-November-2016

The simplify savings solution (Munnell, 2009) 10 Old Dominion University, CS 410, Gold, 17-November-2016

Major Functional Users consist of Admin and Learners Component Diagram Devices with Access to ● Users connect to the the Internet Internet using their prefered device. Dedicated Website for Simplify Savings ● Our dedicated website will provide a Implemented on Server database to all information related to saving for retirement Database for all Data Related to Retirement Savings 11 Old Dominion University, CS 410, Gold, 17-November-2016

Competition Matrix Provides a Does Not Assume Provides A Financial Comprehensive Previous Financial Personalized Low Cost Education Tool Retirement Knowledge Financial Plan Education X X X X Simplify Savings X X X FDIC Money Smart X X X RetirePlan Retirement plans X X X 401k IRA roth X X X High Cost Classes 12 Old Dominion University, CS 410, Gold, 17-November-2016

Development Approach 13 Old Dominion University, CS 410, Gold, 17-November-2016

Hardware & Software requirements If we don’t require it, say that we don’t 14 Old Dominion University, CS 410, Gold, 17-November-2016

What will it use? • Web browser • CSS/JavaScript template framework • JavaScript Visualization framework • Manual content collection • Minimal server side processing 15 Old Dominion University, CS 410, Gold, 17-November-2016

Software Details & Logic Approach 16 Old Dominion University, CS 410, Gold, 17-November-2016

Work Breakdown Structure 17 Old Dominion University, CS 410, Gold, 17-November-2016

Site Map 18 Old Dominion University, CS 410, Gold, 17-November-2016

HomePage Mockup 19 Old Dominion University, CS 410, Gold, 17-November-2016

Example Module Mockup 20 Old Dominion University, CS 410, Gold, 17-November-2016

Algorithms When we have some... 21

Risk Analysis 22 Old Dominion University, CS 410, Gold, 17-November-2016

Risk Matrix ● What the colors mean ● What the Notation means 23 Old Dominion University, CS 410, Gold, 17-November-2016

Technical Risks Technical Risks Technical Risk Mitigation T1: Little or no API support for data T1: Find credible sources for information T2: API is costly T2: Search for third party project funding T3: API source shuts down T3: Choose a high profile API T4: Time constraints related to learning new T4: Independent skills training and practice APIs T5: Schedule for the same CS 411W course T5: Unexpected Personnel Changes 24 Old Dominion University, CS 410, Gold, 17-November-2016

Consumer Risks Customer Risks Customer Risk Mitigation C1: Information not present at a sufficient level C1 & C2: Beta Testing and customer surveys of detail C3: Using a credible API C2: Information present with too much detail C4: Creating a help section and tutorial C3: Information from unreliable source C4: Customer possesses low technical expertise 25 Old Dominion University, CS 410, Gold, 17-November-2016

The Wrap Up • • Societal Problem Software Details and Logical Approach • Identification and Analysis of Customer Base • Design Approach • WBS • Current Process Flow • Site Map • Our Objectives to Modify the Current • Homepage Mockup Process Flow • • Example Module Mockup Modified Process Flow • Major Functional Requirements • Algorithms • Competition Matrix • Risk Analysis • Development Approach • Risk Matrix • Hardware and Software Requirements • Technical Risks • Development Tools • Consumer Risks 26 Old Dominion University, CS 410, Gold, 17-November-2016

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