Definition of Ready is a shared understanding by the scrum Team about what it takes for a Product Backlog Item to be ready to be worked on. It is the team's agreement on what work can be considered ready to be brought into a Sprint, and it must be clear, actionable, and testable. The Definition of Ready helps to prevent unnecessary rework, reduces confusion, and ensures the team can start the sprint ready to deliver value.

The product backlog is the primary source of work for the team and it must be kept organized based on its importance. The act of determining which items should be done first based upon stakeholders' needs and financial benefit is called Product Backlog Prioritization. The Product Owner is responsible for this activity, and prioritization techniques can include ranking, using a scoring matrix or by determining the business value. Its importance lies in making sure the team is working on the most valuable features first and foremost.

Product backlog refinement, formerly known as grooming, involves reviewing, managing, and ordering the items in the product backlog to ensure that the most valuable features are at the top, ready for the next Sprint. It's a collaborative effort with inputs from the Product Owner, the Scrum team and potentially other stakeholders. It is an ongoing process that helps to clarify requirements and ensure everyone on the team understands the work scopes. While it isn't a formal activity in Scrum, it's an essential part of product backlog management to ensure the backlog remains manageable, detailed appropriately, estimated, and prioritized.

Grooming meetings, also known as refinement sessions, are held during the current sprint to estimate effort, discuss, and prioritize backlog items for subsequent sprints. They help in understanding the requirements of each backlog item and ensure no constructed items are bloating the backlog. These sessions prevent unnecessary last-minute surprises and streamline the process for the next sprint, allowing the team to begin work as soon as a new sprint begins. These sessions are traditionally led by the Product Owner along with the involvement of the entire Scrum team.

Sizing user stories is an essential aspect of backlog management. Rather than focusing on the detailed time estimates, Scrum promotes the use of story points for estimating the relative effort required for developing each user story. Various techniques, such as t-shirt sizing (S, M, L, XL), Fibonacci series (1, 2, 3, 5, 8, 13,...), or even the use of animals (mouse, cat, dog, horse, elephant), can be used but all aim to provide a relative comparison of effort between different user stories. This allows for a more effective and collaborative approach to understanding and estimating work.

User story mapping is a visual exercise that helps the Scrum teams to identify the work outcomes from the customer's perspective. It organizes user stories along two dimensions - the user's journey (vertical) and time or sequence (horizontal). This creates a shared understanding, context, and ordering of the work. It's an excellent tool for brainstorming, planning, tracking progress, and maintaining focus on user experience and value throughout the development process.

An essential part of backlog management is breaking down larger backlog items, or 'epics', into manageable, implementable parts, usually referred to as 'user stories' or 'tasks'. This makes planning, estimation, and execution far more manageable and reduces uncertainty. Each story should be a self-contained piece of work that can be developed, tested, and implemented independently while delivering value. This process is usually handled by the product owner and the Scrum team during product backlog refinement sessions.

Minimum Viable Product or MVP is a development technique where new products or websites are developed with sufficient features to satisfy early adopters. After that, final products, with more features, are developed after considering feedback from the product's initial users. It helps in avoiding the building features that customers do not want, thus saving costs and time. The MVP helps validate the business value of features, guides product backlog ordering, and is essential in the iterative development strategy.

Release Planning involves deciding on a commitment point at which a version of the product is to be released and involves predicting or forecasting the functionality that will be available at the end of the release. Though Scrum does not formally have a 'Release Planning' event, it is a real-world activity that many teams use. The concept usually involves a long-term look ahead at the Product Backlog, combined with the historical Velocity of the development team, to forecast what might be done by the given release date.

Product Backlog Items (PBIs) or simply Backlog items constitute the main object of the product backlog. These items include requirements, tasks, bugs, etc. that need to be worked upon in the project. Each PBI has a description, order, value, and an estimate. The Product Owner is responsible for adding the details and ordering the items in the product backlog according to value, risk, etc. The collective details specified in PBIs should be sufficient for the development team to work upon during a Sprint.