What is the RICE scoring model

RICE stands for:

• Reach (R): The number of people impacted by the project or feature over a specific time period.
• Impact (I): The expected magnitude of change or benefit the project will bring, often measured in metrics like increased revenue, engagement, or customer satisfaction.
• Confidence (C): The level of certainty in your estimates for reach and impact, typically expressed as a percentage (0-100%).
• Effort (E): The amount of time and resources required to implement the project or feature, often measured in person/months or weeks.

Think of it like this:

Reach: How many people will use this new feature?

Impact: How much will it improve things (e.g., more sales,  loyal users)?

Confidence: How sure are you that your idea will work?

Effort: How much time and money will it take to build?

In a nutshell there are 4 steps to implement this framework:

1. Compile a list of all items you're considering prioritizing.
2. For each item, assign scores (usually on a 1-3 or 1-5 scale) for Reach, Impact, Confidence, and Effort.
3. Use the formula: RICE Score = (Reach x Impact x Confidence) / Effort
4. Rank project/features. List the projects or features in descending order of their RICE scores. Higher RICE scores suggest a greater potential return on investment (ROI) and a higher priority.

It provides undoubtful benefits:

• RICE makes prioritization more objective and transparent, reducing guesswork.
• It provides better team alignment. Everyone speaks the same language when discussing priorities.
• RICE focuses on big wins, since it pushes to work on projects/features with the widest reach and impact.
• Learning from results. Framework will track progress and see if your initial estimates were accurate.

Here is the list of recommendations to know upfront to consider the RICE framework:

• High confidence scores don't always mean a project is worth doing.
• Be realistic about effort. Don't underestimate how much time and resources projects will take. Ensure accuracy in Reach, Impact, and Effort scores to avoid misleading results.
• Consider aspects like alignment with company strategy or user pain points that RICE scores may not fully capture.
• RICE is a guide, not a rule. Consider other factors that don't fit neatly into the framework.

RICE isn't the only chef in town, there are several alternatives:

Kano Model

Focus: Customer satisfaction and delight.

How it works: Categorizes features as basic, expected, exciting, or indifferent based on their impact on customer satisfaction.

Strengths: Prioritizes features that users truly care about and helps avoid waste on features that provide no value.

Weaknesses: Relies on customer feedback, which may not always be readily available or accurate.

MoSCoW Method

Focus: Balancing business needs with user expectations.

How it works: It classifies features as must-have, should-have, could-have, or won't-have based on their importance and feasibility.

Strengths: Provides a clear prioritizing framework based on essential and desirable features.

Weaknesses: Can be subjective and may not account for potential future needs or opportunities.

9-Box Matrix

Focus: Quickly identifying high-impact, low-effort opportunities.

How it works: Plots features on a matrix with axes for impact and effort, categorizing them into high, medium, and low for each.

Strengths: Provides a visual and intuitive way to identify quick wins and high-value projects.

Weaknesses: Oversimplifies complex factors and may not capture all project nuances.