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What is the purpose of the PBI?

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I'm pondering what a PBI is and what the purpose is? I know from the scrum guide it is an ordered item in the product backlog about the work to be done on the product. And a PBI is not large that what can be completed in a single sprint.

But how do I make the product backlog transparent to stakeholders and should it be? For example the stakeholder knows that in version 1.1 of the product there are a certain set of features coming and he want's to know the completeness of version 1.1. Is this overview in the product backlog?


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