RICE is one of the most popular prioritization frameworks today.

It originate at Intercom and was co-developed by Sean McBide and a few other Product Managers there at the time.

They created RICE as a prioritization framework to improve their decision-making process and solve several problems they were facing. You can read more about it in their original post on RICE. 

RICE uses four attributes:

Since it’s humble beginnings at Intercom, RICE has become one of the most popular prioritisation frameworks in product today.

REACH	How many users will use this reach?
IMPACT	What is the impact on the user? 3 = Massive impact 2= High impact 1 = Medium impact 0.5 = Low impact
CONFIDENCE	How confident are you with this idea and its reach and impact scores?
EFFORT	How long will the feature take to build?

RICE is a formula that multiplies, reach, impact and confidence together and then divide that by effort.

The output of this is known as a RICE score.

When applying RICE you can either use a tool that allows you to input a RICE score, like Productboard, Airfocus or Roadmunk, otherwise you can easily use a excel spreadsheet to perform the calculation (template).

It’s important to remember the your RICE score isn’t supposed to do the prioritization for you. RICE should be an input to your prioritization. Interrogate the data before making a final decision.