Planning Assessment System Using Multi-Dimensional Scoring
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Solution Overview
Problem
Individuals face challenges in evaluating and implementing suitable financial and other-than-financial plans, as they often do not assess their current and future personal circumstances effectively, leading to incomplete or unexecuted planning.
Innovation Solution
A system and method that assesses financial and other-than-financial planning by presenting questions across multiple dimensions, scoring user responses, providing comparison scores, and offering resources and action items to improve planning suitability, with reminders to review and update plans.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Quantity of substance
If individuals perform financial and other-than-financial planning, then their planning coverage improves, but their ability to evaluate suitability and carry out plans deteriorates
Solution Approach 1:
The system provides automated feedback by comparing user responses against established criteria and peer benchmarks, generating suitability scores and actionable recommendations that guide users in evaluating and improving their planning without requiring expert knowledge
Solution Approach 2:
The system enables users to self-assess their planning suitability by answering questions and receiving automated evaluation results, eliminating the need for professional advisors while maintaining comprehensive assessment capabilities across multiple planning dimensions
2Measurement precision
If the system provides comprehensive assessment across multiple dimensions, then evaluation accuracy improves, but system complexity increases
Solution Approach 1:
The assessment system is divided into distinct dimensions (financial planning, career planning, relationship planning, personal growth, health and wellness) with specific criteria for each, allowing comprehensive evaluation while maintaining modularity and ease of implementation
Solution Approach 2:
The system uses a unified assessment framework that covers multiple planning dimensions through a consistent question-and-score structure, enabling comprehensive evaluation across diverse areas without requiring separate complex systems for each dimension
3Productivity
If the system provides personalized resources and action items, then planning improvement effectiveness improves, but information processing requirements increase
Solution Approach 1:
The system provides tailored resources and action items specific to each user's identified needs and strengths across different planning dimensions, delivering customized information rather than generic content, which improves effectiveness while managing information load through relevance filtering
Data Source
AI summary
A system and method identifies a score for a user using the user's response to questions from a number of different financial and other-than-financial planning dimensions.