According to the PMBOK Guide, a product backlog is an ordered list of requirements that a project team maintains for a product. It consists of features, functions, requirements, enhancements, and fixes that need to be delivered by the project. The product backlog is the single source of truth for what the project team will work on.

The PMI Guide to Business Analysis states that one of the key competencies of a business analyst is to elicit, analyze, and manage requirements that deliver value to stakeholders. The business analyst is also responsible for ensuring that the requirements are aligned with the business needs and objectives, and that they are prioritized and validated.

Therefore, to avoid the perception that the project did not add any business value, the project manager should have defined the product backlog priorities with the sponsor and key stakeholders to deliver business benefits. The project manager should have:

Engaged the sponsor and key stakeholders in the project initiation and planning phases, and clarified the project scope, objectives, and expected outcomes

Collaborated with the business analyst and the product owner to elicit, analyze, and manage the requirements that address the stakeholder needs and expectations

Established a clear and transparent prioritization criteria for the product backlog items, based on the business value, urgency, risk, dependency, and complexity

Involved the sponsor and key stakeholders in the prioritization and validation process, and obtained their agreement and approval on the product backlog

Communicated the product backlog priorities and changes to the project team and other stakeholders, and ensured their understanding and alignment

Reviewed and refined the product backlog regularly, and adapted to changing business needs and feedback

By defining the product backlog priorities with the sponsor and key stakeholders to deliver business benefits, the project manager can:

Ensure that the project delivers the most valuable and relevant features and functions to the customer

Increase the stakeholder satisfaction and engagement, and build trust and rapport

Reduce the waste and rework, and optimize the project resources and time

Enhance the quality and usability of the product, and increase the customer loyalty and retention

Demonstrate the business value and impact of the project, and celebrate the success and achievements