Prioritization as a norm means “doing the first thing first”. Globally, the teams have been using SEVERAL methods or techniques for backlog prioritization. It is REALLY important that they understand few techniques that can help in way of prioritization such as MOSCOW, where a list of requirements or user stories are categories into – Must Have, Should Have, Could Have and Won’t Have. Once the classification is done into the 4 groups, the requirements are graded in order of preference within each CATEGORY. Another method of prioritization is the 100-Dollar Test or Cumulative Voting, in this method, the stakeholders are INVITED for a prioritization meeting and to make a list of options to be prioritized. 

All the stakeholders are given a finite amount of virtual entities (dollars, points, etc) which has to be divided among the given options (user stories, requirements, etc.) After that one can calculate the total units for each requirement. There’s another model which is comparatively more simple and effective – Stack Ranking. In Stack Ranking we consider each backlog item and place it in order of priority. The best part of this method is there can only be one number one, hence, helps to avoid a common issue where everything becomes a very high priority.