RICE Framework Template in Excel

Do you want to make a prioritization among your projects? Here’s our RICE Framework Template in Excel to evaluate all your projects and calculate RICE scores.

What’s the RICE framework?

The RICE framework is a powerful model for prioritizing products, tasks, features, or projects based on a quantitative approach.

It stands for Reach, Impact, Confidence, and Effort. And, this method helps teams to evaluate and rank their initiatives according to these four factors.

The formula for the RICE model is expressed as below:

Here, each component of the formula serves a distinct purpose in the RICE Framework Template:

• Reach: Firstly, this number estimates how many people you expect to that the project will impact within a certain time frame.
• Impact: Secondly, you should input the effect level of the project on those people on a numerical scale.
• Confidence: Thirdly, this percentage reflects your level of certainty about your estimates.
• Effort: Lastly, this is the amount of work required from your team, typically measured in person-months or another unit of time.

What’s Rice Template?

A RICE Model template organizes these metrics in a structured format, often within tools such as Excel, Google Sheets or other spreadsheets.

How to use Excel RICE Framework Template?

Basically, this tool consists of three main parts:

1. Evaluation
2. Prioritization
3. Dashboard

Let’s look at these section more closely.

1. Evaluation Section

In general, this is the main input section of the RICE Prioritization Template.

Firstly, please list your product prospects, features, or other projects. Then, write down the estimated number of people you want to reach.

Thirdly, you’ll select the impact level from the drop-down menu. This is a 1-5 scale. Then, you’ll write down your confidence percentage. So, this shows how much you believe in your estimations in the RICE Framework Template.

Lastly, you’ll select the effort level from the dropdown menu. This is a 1-20 scale evaluation.

Now, the template will automatically calculate the RICE score for each project.

2. Prioritization

So, when you input your evaluation points in this Excel file, this section sorts all your projects according to their RICE scores in descending order.

This will make a prioritization table for you. Also, this is a dynamic and professional looking table, that you can easily use it for your presentations. Or, you can take a print-out with CTRL+P.

3. Dashboard

Finally, you can see a project-base summary of your reviews in the Dashboard section of RICE Framework Template. Feel free to use the drop-down menu to select the relevant project. So, the numbers will update automatically.

Additionally, you can select “All” option to see an overall view of your projects. Lastly, there’s a Key Takeaways section, where you can write down your particular notes before presenting your RICE Prioritization model.

That’s how you can adapt RICE prioritization method, or simply RICE format.

Using a rice framework excel template helps streamline the prioritization process, making it easier to visualize the potential ROI of various projects and balance multiple factors effectively.

Excel RICE Framework Template Features Summary:

• Excel template to adapt RICE model
• Printable, fillable and editable RICE format
• All-in-one prioritization tool for product management
• Automatic sorting
• Instant Download
• Ready-to-use
• No VBA or Macro codes
• Compatible with Excel 2010 and later versions
• Works both on Mac and Windows