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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 the team to enhance productivity and happiness. He highlights common issues that hinder team efficiency, such as distractions during meetings or late arrivals to stand-ups. To develop an effective working agreement, Gagne suggests using reverse psychology: the team should brainstorm potential failures and then prioritize the top five risks based on likelihood and impact. From there, the team can establish specific rules to mitigate those risks, such as ensuring all participants focus without distractions during meetings to improve overall effectiveness.