Product Backlog is the key term used in Agile management. It is a checklist of all the fundamental instructions and standard operating procedures, which are required to fulfill a task. It is the task of the workers to ensure that the work done is according to the product backlog. Generally, the ownership of Agile Backlog is in the hands of the head of the project who predicts future challenges and designs the backlog according to it.
The product backlog is immensely useful in scenarios when you are stuck. It helps in situations when you can find the correct answer to everything asked of you (mostly in all situations). It helps in situations where small planning will do the job adequately. Backlog in nature is a wish list, as opposed to the common misconception of it being a to-do list. As it helps in estimating, refining, and rearranging the preference of the things you want to do in the future, it is critical to product development and its various stages.
The purpose of the backlog includes the development of common ground to take stakeholders and teams on one page. The prime purpose behind this is that the team can easily implement esteemed user stories. Backlog also provides flexibility due to its non-rigid nature and makes you adapt to the ground realities and needs. Backlog also creates a common denominator to help different teams work on a combined goal of one product. The purpose of this common denominator is to improvise and improve the accuracy of product releases.
The sign of a well-built backlog is that it helps teams to build the most useful product in the limited time available. Most of the backlogs include items that have an expected completion date within the upcoming quarter or fiscal year.