Back to talking about product! Last week, I talked about the importance of product prioritization and the product roadmap. I’ve also . Specifically, how to drive adoption and engagement. Today, here’s a framework for product prioritization – RICE.
- Reach – How many customers or prospects would a feature/ development engage?
- Impact – What is the outcome/ results of a build? Would this drive engagement – feature/ user adoption? Drive revenue?
- Confidence – How likely would development have the effect on reach and impact?
- Effort – How many total man-hours/ weeks/ months would this development take? Remember to include hours for each resource across functions (i.e. product, front-end, back-end).
Combine each of the scores for:
The idea of RICE is to measure each potential development (feature, build) objectively to drive the most value – benefit vs. resources.