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How do you explain Agile to a technical audience (in few words)?

I'm going to present Agile for a crowd of about 50 technical people (developers, admins, etc) in a few days. Most of them have heard of agile, but most probably lack a proper explanation. I need to define agile to them in one of my first slides. How should I go about, not falling into the trap of being too abstract or fluffy, while still covering the most important facets?

Edit: Preferably short, elevator-pitch style.

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jonathan.cogley

The world is always changing … expecting your priorities, views and needs to stand still while you build software is unrealistic. Agile allows change to happen as a natural part of the software development process with improvements being made to requirements, processes and even the team itself.

Teams and organizations that thrive in the face of change, will thrive.

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