What is a Product Backlog?

Product Backlog is one the artifacts of Scrum. The product owner writes the product backlog. It is an ordered list.

This is a list like grocery list. Each item in the product backlog is called a product backlog item (PBI) . The product owner orders into one order based on business value , risk  and technical input

It is just an excel list. Typical columns in a product backlog are

1. Item Number
2. Story Description
3. Size ( also called as estimate by team)
4. Order – This is one number. 1, 2, 3, 4 and so on
5. Business Value – The PO is accountable to get the correct business value working with customer, stakeholders and rest of the organization.
6. Definition of ready – Is this item sprint ready – yes or no
7. Team name – the team that is working on an item
8. Sprint number
9. Release number
10. Acceptance Criteria. – More details on the requirement

Here is an example image on mountain goat sofware