R.I.C.E.S Prioritization Framwork

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Prioritisation and focus are always a challenge when building a product roadmap or building your marketing strategy. How do you decide what to work on first?

High performers give themselves permission to let go of new ideas and not be swayed by the new shiny opportunity and focus on their current objectives – Do not move onto the next until you complete your current goal, assuming it still matches your mission…goes well with focus

If you implement too many ideas most of them will fail NOT because the idea was bad but because you couldn’t give it the energy it deserved.

Write yourself a permission slip “This idea does not apply right now for your business, it will stay on the shelf for later”

You need an objective process of sorting good ideas to the top when prioritising which idea you are focusing on!

RICES: Five factors for assessing priority

1. Reach: This measures the number of people or transactions that will be affected by the initiative within a given time frame (typically a month or a year). It helps assess the scale of impact.
2. Impact: This refers to the effect the initiative will have on the users or the business if it's implemented. Impact is often graded on a scale (like 1 to 3 or 1 to 10), where higher numbers reflect greater potential effects.
3. Confidence: This reflects how sure the team is about their estimates of Reach, Impact, and Effort. Confidence percentages help adjust the overall score to accommodate uncertainties in predictions and assumptions.
4. Effort: This estimates the total amount of work required to complete the initiative, typically measured in person-months or other time units. It helps gauge the resource investment needed.
5. Speed to implement: This estimates the time it takes for initiative to be deployed. It doesn't matter how good an idea is IF your company goes bankrupt before it can be implemented.

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Have shorter cycles with clear focus instead of waterfall projects

 Implement one idea at a time…

By focusing on 3 things over a month halfway through the month priorities change and all of a sudden you you drop the three things without finishing or learning anything meaningful.Instead of a month for three things, have a shorter cycle and do one thing and complete that.

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