RICE Prioritization Template

When faced with numerous ideas, it can be challenging to determine which to prioritize, especially when aiming to satisfy customers. Teams may be tempted to dive into the most brilliant ideas first, overlooking their potential benefits. So, how do you evaluate and prioritize ideas when there's so much to consider? The RICE prioritization framework can assist in this situation. The RICE acronym represents reach, impact, confidence, and effort, which are four factors that can aid in assessing and prioritizing ideas. By using this process, your team can evaluate each project's feasibility, ultimately having a significant influence on your business's direction and growth.

When to use RICE

The RICE framework is a flexible scoring model that encourages a thoughtful consideration of a project idea's potential impact. It provides a structured approach to decision-making, minimizing emotional bias and facilitating consensus-building among team members. The following are typical situations where the RICE template can be useful for teams:

• When faced with a multitude of ideas: The RICE method can help you objectively evaluate and compare them to make an informed decision.
• Prioritizing a product roadmap: A product roadmap outlines the direction and vision for your project line over time, and it can be challenging to decide which ideas to prioritize. Using the RICE framework can help you narrow down your ideas and prioritize them for maximum business growth.
• Resolving team disagreements: When your team is struggling to align or agree on new ideas, the RICE framework can be a helpful tool to get everyone on the same page. By evaluating each idea based on reach, impact, confidence, and effort, you can facilitate a productive discussion and come to a consensus.
• Starting a new project or product launch: Employing the RICE framework at the beginning of a major project or when planning a new product launch can help your team focus on the most important aspects and narrow down ideas to prioritize for success.

How do you use the RICE template

To create a RICE framework with FigJam, follow these steps:

1. Evaluate the project's reach and impact with real data to get a numerical value to prioritize tasks.
2. Quantify the confidence score as a percentage to evaluate the success of the project.
3. Think about the total time and effort required to complete the project.
4. Calculate the RICE score by multiplying reach, impact, and confidence and dividing it by effort.
5. Compile a list of tasks and scores to assess priorities.
6. Repeat the process for each task to have a clear idea of what to do going forward.

Who invented RICE prioritization?

Sean McBride co-developed the RICE model as a product manager at Intercom. Since then, it has been widely used by businesses across various industries.

How is the RICE score calculated?

The RICE formula, which multiplies Reach, Impact, Confidence, and divides by Effort, is used to calculate your score. This score can help businesses determine whether their ideas and initiatives are worth pursuing in their roadmaps.

What is the RICE method for prioritization?

The RICE framework prioritizes ideas, concepts, or products based on four categories: reach, impact, confidence, and effort, which are used to calculate the RICE score. This method helps businesses focus their efforts on initiatives that are more likely to succeed and prioritize ideas that are most beneficial for their business.

Is a higher or lower RICE score better?

The RICE scoring model follows the "bigger is better" principle. A high RICE score implies that you have a valuable idea that will yield good results with less effort and time. On the other hand, a low RICE score means that your idea might not be as successful and could require more resources to execute.

How do you prioritize a roadmap?

When it comes to prioritizing product roadmaps, there are various methods available. With RICE, you can use its established framework to guide your decision-making process. This involves utilizing the RICE scoring model to determine which ideas and concepts should be given priority in your roadmap.