According to the PMBOK Guide, agile project management is an iterative and incremental approach that delivers value to the customer frequently and responds to changes quickly. One of the principles of agile project management is to maximize the amount of work not done, which means eliminating waste and focusing on the most valuable features. The product backlog is a prioritized list of features or requirements that the project team delivers in iterations or sprints. The project manager, in collaboration with the product owner and the stakeholders, should prioritize the product backlog based on the business value and the effort required to deliver each item. By doing so, the project manager can ensure that the project delivers the highest value possible within the budget constraints. The project manager should also adjust the project budget and staffing to account for the prioritized items, and communicate the changes to the project team and the stakeholders. The project manager should not balance the project team, restrict the project scope, or reduce the project staff, as these strategies may compromise the quality, value, or customer satisfaction of the project deliverables. References:
PMBOK Guide, 6th edition, pages 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53…
PMI-PBA Guide, pages 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53…
