The Product Backlog is ordered by:

The Product Backlog is ordered by the Product Owner with the most valuable items placed at the top, as stated in [6]: “The Product Owner is responsible for ordering items on their product backlog based on their value to customers and users. Value can be measured by various factors, such as business value, customer satisfaction, risk reduction, learning opportunities, etc. The most valuable items are placed at the top of the product backlog so that they can be delivered sooner by the development team.”