Nbrzoz commented on the following stories on BizSugar
Project Management: Tips for Ongoing Projects
"Lyceum, if we define milestones as important stages in product development - it would be super-hard to estimate when they're going to happen beforehand. The time span between them is usually considerable, so there would be too much risk in under or overestimating. And by story points we mean all those smaller actions you have to perform - you break down your big tasks into story points, and then you measure how many of them are done per time interval (or 'sprint', could be two weeks or so). That's how you calculate velocity."« previous1 next »
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Project Management: Tips for Ongoing Projects
"Velocity is an agile term that denotes the number of 'story points' (or units of work) that the team completes in a particular interval. So it's basically the efficiency of the team. This is measured while the project's already running. We've actually done an infographic on this too! http://espeo.eu/blog/team-velocity/"