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So is it safe to assume that ICM is only useful in these two situations?

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ICM is independent chip model, which is a way of assigning equity to chip stacks in a SNG (or larger tournament, I suppose). I point this out because I think a lot of people confuse ICM with the whole process of analyzing an action (usually a push or call decision). ICM is used to evaluate the equity position before the action and after the possible outcomes, but ICM isn't involved with the middle parts. ICM is not the only method for estimating equity.