RICE Scoring Model EXPLAINED | FREE Template Included

The RICE scoring model is a prioritization framework used for prioritizing ideas, potential opportunities, or features for product development. RICE stands for Reach, Impact, Confidence, and Effort, representing the parameters used for scoring. Reach measures the number of people affected by a feature, Impact assesses the value brought to customers, Confidence gauges the certainty in estimations, and Effort measures the resources required. The RICE score is calculated by multiplying Reach, Impact, and Confidence and dividing by Effort, providing a quantitative score for prioritization. The speaker introduces a Notion template to assist in calculating RICE scores and emphasizes the importance of consistency and documentation in the process.