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From Release Planning till delivery, how frequently a scrum team’s Product Owner should prioritize the backlog to get maximum benefit?

Suggested Solution:

Product Priotization has to be a continuous exercise. Teams continually reprioritize items in their backlog to ensure they are spending time on the right things.

A few surveys (ex. one conducted by shows that more than 40% of the Product Owners, do a weekly prioritization.

Having said that, there is not exact frequency set as silver bullet. Every team arrives at their sweet spot by balancing their constraints and opportunities.