Your reach could refer to new customers, new prospects, transactions, or even how many customers will sign up for the new feature. You’ll need to define “reach” on your own, as well as what time frame you’ll be using for the calculation.
#IT PRIORITY MATRIX TEMPLATE HOW TO#
How to use our RICE prioritization matrix template in Lucidspark That way, your team isn’t bogged down by additional considerations. The RICE matrix looks at the four factors that really matter in terms of prioritization. This goes a long way to convince stakeholders and others throughout the organization of the correct order of development. Instead of relying on feelings or guesses, the RICE assessment brings quantifiable clarity into the equation. After conducting a RICE assessment, you’ll have a better idea of which products, features, or initiatives to focus on first because you’ll be able to determine how successful each one is likely to be. This will be used to determine a final score in the template so that products or features can be easily ranked in order of importance. You’ll notice that each of the four factors are assigned a numerical value. Effort: How much time your initiative or product will require to develop.
Confidence: A percentage that denotes how confident you are in the product’s impact.Impact: How much you believe this will impact a person.Reach: How many people the feature or product will impact within a specified time frame.The RICE prioritization method looks at four factors to determine priority: The RICE prioritization method is a systematic way of ranking features, products, or initiatives in order of priority so that product managers know which items to tackle first.
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