If Column A contains specific text and Column B contains specific text, then Column C is text

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Hello,

I am not sure how to figure this out. I have tried IF, INDEX, CONTAINS with no luck. What I am trying to do is set up on Impact/Effort Matrix with a formula that looks at the text in Column "Effort" and Column "Impact" then returns certain text in Column C.

For example:

If Effort is "low" and Impact is "low" then return "Do later"

If Effort is "low" and Impact is "High" then return "Quick Win"

If effort is "high" and Impact is "high" then return "Big project"

If Effort is "high" and Impact is "low" then return "consider carefully"

Thanks Nicole!

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