An iteration is a brief (often 2-4 weeks) period during which the team works on product functionality. The team selects work items to complete based on their priority and cost, and aims to have them completed and tested by the end of the iteration. The number of work items selected is based on the team's velocity and the work item's points; the team should aim to complete as many points as its current velocity. During the planning period and the iteration, the business should keep track of the duration, status, team working on it, and target points. It would also help to include a description, work items, and shared folders. Once the iteration has finished, the team should record how many points it completed, what went well, what went badly, and what it could do better next time.

The duration should include a start time and an end time. This keeps track of when the work items are started, and when they must be finished by. It also allows the team to check if they are on track for finishing the work items on time.

Information about the iteration's status should be shown. Status options include planning, not started, in progress, and completed. Iterations in the planning stage are not yet ready to be started. Once planning is complete, the iteration progresses through the other stages until it is complete or discontinued. It is important to have information about the iteration's status because it lets managers know when the functionality is being worked on, and when the team will be available to do other work.

The team working on the iteration should be included in the iteration information. This allows the team and the business to keep track of what they should be doing, and who should be consulted if there is a problem with the iteration or work items.

Target points should be listed within the iteration. The target points allow the team to know how much work they are expected to complete. The team can also compare the target points with the duration and completed points to see if they are on track for finishing the iteration on time.

The description of the iteration should explain what the team is expected to do, and how it adds value to the company. This section is important because it records why the team is meant to complete the work items.

A list of work items should be included in the iteration, so that the team and business know what the team is meant to do. The work items should contain more information about what the team will do during the iteration, and why it is important. The list of work items is important because it keeps track of what the team must do, what they have completed, and how they are progressing.

Shared folders should contain any information that can be used by people working on the iteration. They can contain attachments such as actions, comments, files, images, and notes. Shared folders are important because they allow for easy sharing of information within the team.

After the iteration has ended, the team should record how many points were completed. Comparing target points to actual points allows the team to see if they were doing as well as they expected. Any differences in target and actual points should be discussed after the iteration, in case there was a problem during the iteration.

The team should meet after the iteration to discuss what went well, what went badly, and what they could do better next time. This information is important because it allows the team to perform better in future iterations by continuing what went well, avoiding what went badly, and seeking to improve performance. This information should be recorded for future reference, so that teams can try different approaches to solving problems and avoid making the same mistakes.