<aside> 🚨 Speckled comes with RICE as a default. This recipe may be deleted or edited from your recipes section and replaced with a custom one of your making. Please note that if this recipe is edited from it's default state, the RICE calculation will not work as intended. If you do decide to modify it and later would like us to reinstate the RICE formula on your account, just shoot us an email to [email protected] and we'll gladly get it right back for you.
</aside>
RICE is a straightforward way to prioritize that uses an item's reach, impact, confidence, and effort.
Using the formula and its results, you can compare items against one another to determine which ones you should tackle first and which ones may offer the most "bang for the buck".
RICE = (Reach * Impact * Confidence) / Effort
Measured as a number
Ex. 120
Reach is how many users will likely be impacted or touched by the item.
For new features, reach is typically how many people will actually use the feature. As PMs, we'd like to think that everyone is going to love our shiny new feature. However, setting our reach number to our whole user base count for every feature is going to throw off all our other estimates. Therefore it is best to estimate reach as realistically as possible. If your feature applies to a certain segment of your application, then you may want to use a portion of that segment instead of your whole user count.
Measured as high, medium, or low