In Agile environment, project time is divided into multiple fixed time periods, each of such time periods is called a Sprint. At the end of each sprint, work completed by the team is presented to the end user to get the feedback related to work completed. Having small development and feed back time periods help to evolve product based on user needs. It also help management to monitor the progress of the project more closely.
The duration of a sprint usually varies from 1 week to 4 weeks. Usually duration of the sprint is selected based on the duration of the whole project. The smaller sprint are chosen for relatively smaller projects.
Before start of a sprint, a sprint planning meeting is held to decide the things need to be completed in the sprint. Also a sprint review meeting is held at the end of each sprint to give demonstration of the completed work to the stakeholders.
An objective or goal can be set for each sprint. Setting a goal help product owner in gleaning the appropriate requirement for the sprint. It also help teams to work towards a common goal and at the end of the sprint a working product of specific value can be demonstrated to the stakeholders.
Relation with a Release
A set of sprints may be bound together into a Release.