In a regulated environment that is expected to change, maintaining visibility of regulatory constraints while ensuring flexibility is crucial. A product backlog is a prioritized list of work for the development team that is derived from the roadmap and its requirements. It is the single source of requirements for any changes to be made to the product. The product backlog allows the project manager and the PMO to keep track of regulatory constraints and manage them as they change, ensuring that the team is always working on the most valuable tasks at any given time. This aligns with the agile approach to project management, which emphasizes adaptability and responsiveness to change, key aspects when dealing with regulatory environments.