What does the term 'velocity' refer to in Scrum?

In Scrum, velocity specifically refers to the amount of work a Scrum Team completes during a Sprint. It is commonly measured in units such as story points, ideal days, or any quantifiable metric that assesses the team's output. Understanding velocity is crucial for managing the team's capacity, forecasting future Sprint outcomes, and enhancing the planning process for subsequent Sprints.

By tracking velocity over time, teams can gain insights into their performance trends and make data-informed decisions about how much work they can realistically commit to in future Sprints. This metric encourages teams to focus on delivering high-quality increments consistently and helps in building a sustainable pace of work, contributing to the overall effectiveness of the Scrum framework.

The other options do not correctly represent the concept of velocity within the context of Scrum. The speed of team meetings, the duration of a Sprint, and the number of team members working on a task are all relevant concepts but do not pertain to the measurement of work completed, which is the essence of velocity.