What is the process of recording, tracking, and prioritizing work items called?

The process of recording, tracking, and prioritizing work items is referred to as backlog management. This process is essential in project management and agile methodologies, as it involves maintaining a list of work items (often called the backlog) that need to be completed. Effective backlog management ensures that the team is focused on the most critical tasks and helps facilitate discussions about priorities and progress among team members and stakeholders.

Backlog management involves not just the cataloging of tasks, but also continuous evaluation and re-prioritization based on the project's needs, stakeholder feedback, and changing circumstances. This dynamic nature allows the team to remain responsive and agile in addressing the most pressing business needs.

The other options represent different concepts: impact analysis involves assessing the effects of changes within a project, estimation focuses on assessing the time or resources required to complete tasks, and functional decomposition is about breaking down complex processes or systems into more manageable components. However, none of these specifically encapsulate the holistic approach of managing a list of prioritized work items as effectively as backlog management.