A release is a group of iterations during which new features are developed for a product. The new features are presented to the product users in the release. Releases should happen every 3-4 months, to make the new functionality available as quickly as possible. For every release, the business should keep track of duration, release status, and owner. It is also useful to have a description, shared folders, and iteration information.

The release should have a start and end date. This allows project managers and teams to keep track of how far through the release they are, and how much remains to be done. Furthermore, the business can use this to check if the release is on track for completion.

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

The owner of the release should be named in the release. This makes it easier to consult or inform them if the product needs to be changed.

The description of the release should mention what functionality is going to be developed in the release, and how it adds value to the company. A description is important because it keeps track of what functionality will be completed.

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

There should be a list of iterations that will occur during the release. Iterations are the small-scale work periods that create the functionality that the release makes available to users. Information about the iterations that will be completed helps to explain what functionality will be produced, and what functionality will be absent if the release is made earlier.

Keeping a record of the release helps the business to tell users when the new features will be available. It also creates a timeline of feature releases, which provides a plan for where the project is going, and how soon it is expected to arrive there.