RICE+R for Regulated Product Prioritisation
A quick guide
Most common product prioritisation frameworks don’t consider regulatory adherence — so here’s my guide on how to do it.
Note: This is a summary extract from my article The 3 Steps to Product Prioritisation in a Regulated Industry just on the RICER framework. See that article for the full guide on how to do regulated prioritisation.
I recommend RICER for prioritisation
The last R in RICER stands for Regulatory.
Acting as a counterbalance for a RICE calculation, it’s calculated by assessing the current Regulatory Performance and multiplying that by the Regulatory Risk.
Regulatory Performance reflects that often regulatory features or changes are ‘permission to play’ items that a product must meet in order to participate in the market. If the product isn’t hitting those requirements, the product team generally needs to prioritise those.
Regulatory Risk acknowledges that not all compliance needs are equal. Some have bigger consequences while others are more likely to go wrong. Companies make conscious choices about how to meet regulatory compliance based on their assessment of risk. The product team need to be able to do the same.
