The ICE prioritization template is based on agile prioritization framework which enables you to assess projects, ideas, and features via a three-set measurement: Impact, Confidence, Ease
Impact refers to the potential for a project to support the main business objective. For example, if your focus is on getting more people to use your app, anything that could encourage a boost in sign-ups would have a high Impact score.
Confidence tempers the Impact score a little by making you consider how confident you are that this impact would be realized.
Ease is somewhat self-explanatory: how easy is the project or test to complete? There are no fixed parameters here, all the scoring is done relative to other ideas on the table.
The ICE prioritization template uses the three criteria and gives each item a relative score from 1-10 (1 being low, 10 being high). By multiplying the three scores, you will receive the ICE result. The ultimate goal of this template is to find out which project, idea, test, or feature to pursue first based on the level of impact they could have on your business goals, your level of confidence in achieving the result, and how easy the project is to execute.
Cost (X) criteria
Value (Y) criteria