Try Needs, Wants and Wishes instead of MoSCoW when prioritizing.
There are several ways to prioritize a product backlog but Mike Cohen clearly disagrees with the MoSCoW (Must, Should, Could, Will not have) prioritization technique in this article citing that the method fails to consider items placed in the could-have category and is used to sort out product requirements for a non-agile project. Instead, through an approach that he borrows from his financial planner, he suggests projects to try needs, wants, and wishes. The agile coach notes that the new method has worked well with 3 companies he tried and he finds it a lot easier to explain wants vs. wishes than explaining could-haves.