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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 common issues that hinder team efficiency, such as distractions during meetings and tardiness at stand-ups. To develop an effective working agreement, he suggests a reverse psychology approach: the team should brainstorm potential failures and then prioritize the top five risks based on likelihood and severity. Finally, the team creates specific rules to mitigate these risks, establishing a framework for better collaboration and performance.