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In this video, Chris Gagne, an Agile Coach, discusses the concept of a working agreement, which is a documented set of ground rules created by a team to enhance productivity and satisfaction. He highlights that certain behaviors, like distracting devices during meetings or tardiness at stand-ups, can hinder effectiveness. To establish a working agreement, he suggests using reverse psychology: the team should identify potential failures by brainstorming and then prioritize the top five risks based on their probability and impact. Finally, the team should formulate specific rules to mitigate these risks, fostering a collaborative and focused working environment.