The RICE scoring model is a framework used in product management to prioritize product features or ideas. RICE stands for Reach, Impact, Confidence, and Effort. Reach refers to the number of customers or users that a particular feature or idea will affect. Impact refers to how much the feature or idea will impact the user or business. Confidence refers to how confident the team is in the data used to estimate reach and impact. Effort refers to the resources needed to develop and implement the feature or idea. The RICE score is calculated by multiplying the reach, impact, and confidence scores and then dividing by the effort score.
How many people will be affected in a given timeframe? The timeframe can be any period of time (week, month, quarter, year). If you expect your project will deliver 1,200 new prospects and 30% of those prospects will sign up in a month, then your reach score is 360.
Reflects some quantitative or qualitative goal. It is not always easy to measure impact, as you can not always be sure that one thing affects another directly.
Five-tiered scoring system for impact:
| Score | Impact |
|---|---|
| 3 | Massive |
| 2 | High |
| 1 | Medium |
| 0.5 | Low |
| 0.25 | Minimal |
Control for projects where the data supports some factor but relies on intuition for other factors.
| Percentage | Confidence Level |
|---|---|
| 100% | High |
| 80% | Medium |
| 50% | Low |
| < 50% | Moonshot |
Represents the costs of some effort. Estimate the total number of resources to complete a project. Person-months is a reasonable representation. If the combined effort of a project is 3 months, then the effort score is 3.
$$ Score = (Reach * Impact * Confidence) / Effort $$