Location:
anterior to trachea and esophagus, lateral on left of ascending aorta.

Function:
blood flow to the lungs: blood moves out the right ventricular outflow tract (RVOT) through the pulmonary valve into the pulmonary trunk which bifurcates to right (passing under aorta) and left main branches.

Importance in cardiovascular diseases:
pulmonary valve replacement; patent ductus arteriosus; Tetralogy of Fallot.