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Release planning is an exercise of finding out which features that are defined in the product backlog will help the team meet its current release objectives, as defined by the product roadmap. In general, product owners use this view to manage the epics–a collection of stories that are too big for a single sprint–that the development team will work on during the release. Epics (and their related stories) can be grouped by themes, priority, and so on.
Before moving your stories into sprints for execution, your backlogs should be prioritized. Prioritization (often stack-ranking) can be done at multiple planning levels. Prioritizing a release backlog requires a bit more precision than prioritizing the product backlog due to the closer delivery time-frame. Because of this, it is recommended that all prioritized release backlogs be stack-ranked in absolute order of priority. This provides clarity as to which stories should be moved into a sprint. Prioritizing a release may also require more break-down and elaboration of stories so that effort and dependencies may be factored into the prioritization. When you are in a backlog, make sure your view-mode is set to List mode, so that you can stack-rank stories in relative priority. By default, the Backlog view will display stories in Tree mode.