http://www.daryllu.com/wp-content/uploads/2018/10/entrepreneurial-ninja_logo_sm.png 0 0 Daryl Lu http://www.daryllu.com/wp-content/uploads/2018/10/entrepreneurial-ninja_logo_sm.png Daryl Lu2018-06-13 10:33:002020-12-09 10:10:42A Framework for Product Prioritization: RICE
A Framework for Product Prioritization: RICE
Back to talking about product! Last week, I talked about the importance of product prioritization and the product roadmap. I’ve also shared takeaways from Des Traynor of Intercom talk on product development. 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).
Intercom suggests teams add bands of scores to quantify each factor as best as possible. For example, to understand the factor of Impact, scoring can follow: “3 for ‘massive impact’, 2 for ‘high’, 1 for ‘medium’, 0.5 for ‘low’, and finally 0.25 for ‘minimal’”.
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.