Of all the problems managing a backlog, the one that hurts the most is a lack of alignment. If you don’t have your North Star in mind, what other measurement do you have? It’s very easy to fall back into technical debt, architectural wishes, and feature bits that may or may not add up to a desirable release–something that grows revenue, adoption, stick or an announcement. The near-term backlog needs to reflect “why are we doing this?” At another level, you can measure value by mission. Nothing should be happening if it doesn’t support the mission. I think Roman Pichler (Seven Product Backlog Mistakes To Avoid) covers the basics; however, I would make his last item (The Product Backlog Lacks Strategic Alignment) first. The day may never come for things low in the list. Let’s make sure we have groomed for what’s most important.