What role does the Product Backlog serve within Scrum?

The Product Backlog serves as a prioritized list of project requirements, capturing everything that is needed to develop the product. It is a dynamic and ordered collection of user stories, features, improvements, and bug fixes that the team needs to address in order to deliver a successful product.

The items in the Product Backlog are prioritized based on their value to the customer and the business, ensuring that the most important features are developed first. This prioritization is crucial for aligning the development effort with the stakeholders' needs and for making informed decisions about what to work on next during Sprint Planning.

Moreover, having a clear and well-maintained Product Backlog promotes transparency and facilitates communication among the team and stakeholders. It is an essential tool for the Product Owner to manage the work and ensure that it reflects the evolving requirements and priorities of the project.

The other choices do not align with the fundamental purpose of the Product Backlog. A task list for the Scrum Master, an inventory of team resources, and a schedule for team meetings do not reflect the essence of what a Product Backlog is intended to be.