Agile Approach

• Conceptual framework for developing software Iteratively, so that functionality is deployed and reviewed early and often.

Iteration

• A bounded effort to complete a small number of functional stories.

Story

• A story is a work item that delivers tangible stakeholder value within the iteration - examples include implementing a report, adding a new feature to a web application, etc.  Stories construct a narrative that defines the iteration.

Requirement

• Requirements are a description of how a system should behave or a description of system properties or attributes. It can alternatively be a statement of 'what' an application is expected to do.