Scrum - Agile development methodology

Scrum - Scrum is an iterative, incremental process for developing any product or managing any work.
Product backlog - Wish list of all the things that would make this product great.
Team roles
Sprints    -    Short duration milestones that allow teams to tackle manageable chunk of project and get it to a ship ready state.  Generally range from a couple of days to months depending on the product release cycles.
Burndown charts    -    One of the best project visibility tools to ensure a project is progressing smoothly. Provides a day-by-day measure of the amount of work remains in a given sprint or release.  It is important to see if the team is on the right track.
Product
Users
Customers    -     Uses the product and pay for it.
Executives
Team members
    Product owner - Helps set the direction of the product, picks the right features make into the project from the product backlog.
    Scrum master     - Make sure that the project is progressing smoothly, makes sure that every tem member has their tools to get their job, sets up meetings, monitors the work being done, and facilitates release planning.
    Developers    - Build the product
    Testers    -    Test it to make sure it works right.

Release planning    -
Release backlog    -    The subset of the Product backlog that is intended for the current release is known as the Release Backlog.