RICE product management calculator and better prioritization using the RICE score?

by Aaron Kesler | Apr 30, 2023 | Product Management Process, Vision/Strategy | 0 comments

• Reach: The number of users who will be affected by the feature or project over a specific time period. A higher reach indicates a larger potential impact on users.
• Impact: The degree to which the feature or project will positively affect users. This can be measured on a scale of 1 (minimal impact) to 10 (maximum impact).
• Confidence: A percentage estimate of how confident the team is in their reach and impact assumptions. A higher confidence level indicates greater certainty in the estimates.
• Effort: The amount of work required to complete the feature or project, measured in person-hours, days, or other suitable units. A lower effort score indicates that the project requires less work to complete.

Calculating RICE Scores

To calculate the RICE score for a feature or project, use the following formula:

RICE Score = (Reach * Impact * Confidence) / Effort

The resulting RICE score is a numerical value that can be used to compare and prioritize features or projects. A higher RICE score indicates a more attractive feature or project to work on.

Using RICE Scores in Decision-Making

When using the RICE scoring method, keep the following best practices in mind:

• Involve team members in the estimation process to increase accuracy and buy-in.
• Regularly revisit and update RICE scores as new information becomes available and assumptions change.
• Use RICE scores as a starting point for discussions, not as the sole decision-making tool.
• Consider other factors, such as strategic alignment, when making prioritization decisions.