Backlogs or issue logs can be quite a conflict if you are running waterfall Agile for your project. Usually, issue logs are created for UAT and dictated by users who are not well versed in priority setting. Thus, the issues log will conflict the backlog handled by the product owner (PO).
Priority or Business Value
It is not surprising to see users set high priority to all the reported issues. On the other hand, backlog focus on how to derive maximum business value as its condition. As a PO, you can align both backlog and issues log by comparing business value against issue priority. The lowest business value with high issue priority should be delegated to the bottom of the backlog. Vice versa, maximum business value with high priority can be reviewed on the top of backlog.
Issues Impact or Story Points
Issues impact have a tendency to be blown out of proportion. This is why story points in backlog provided a better value and evaluation over issue impact. You can counter weight issue impact to the respective story points. Good story points can lead to better details and provide you a better understanding. From these details, you can derive the actual impact of the issues relative to the story points.
Issue logs have notorious name to blow everything out of context in waterfall project. You can apply strengths of Agile backlog as a countermeasure and sanity check with waterfall Agile.
Danny Kwok 