Good question! In our team, we have my director and a product Owner, and with the help of a consultant senior, they help keep priorities fair.
So actually we are managing our priority very well for the moment, because everyone is understanding the timing of each one. Obviously their knowledge of how many time does a task takes help a lot (and I am lucky to have my superiors know how many effort does it takes to get things done in programming).
Maybe once a month you will see that over prioritized tasks, but very quickly everything gets fixed because of our Monday sprints.
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