A backlog in product management refers to a prioritized list of features, bug fixes, and other tasks that need to be completed in a software development project. It's like having a to-do list for your product. Just like how you prioritize your tasks based on importance and urgency, product managers use the backlog to prioritize the work that needs to be done. It helps the team stay organized, track progress, and ensures that everyone is working towards a common goal. The backlog is constantly updated as new tasks and features are identified.