In Agile Scrum, Sprint is a fixed-length time period during which a milestone is expected to be reached. Usually, one user story or product backlog item (PBI) must be transformed into a potentially shippable deliverable and ready for review. Each Sprint is assigned a set amount of time to be accomplished (sometimes referred to as timebox), which could be anywhere from one week to one month, but typically lasts two weeks. In the Agile methodology, Sprints are referred as iterations.
According to the Agile Extension to the BABOK Guide (preview),
- Sprint. An iteration of work during which an increment of product functionality is implemented.