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What is term velocity in agile? How is it measured?

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Velocity predicts how much work Agile can complete in a sprint and how much time will it require to complete a project. The number is obtained by adding all the story points from the last sprint’s stories.

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A flexible model like agile can be applied in scenarios like, when:

New changes need to be implemented in between development cycle

Working on complex and bigger projects

There are long term goals and no bound on requirements

Have to quickly launch the product to market

There are frequent changes throughout the development cycle

There is no limit on time and budget

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