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Chris Gagne, an Agile Coach, discusses the importance of a working agreement, which is a documented set of ground rules designed to enhance team productivity and happiness. He explains that aspects like minimizing distractions during meetings and ensuring timely attendance at stand-ups can significantly improve effectiveness. To establish a working agreement, Gagne suggests a brainstorming session where the team identifies potential failures. The team should then prioritize the top five risks based on their likelihood and impact, ultimately creating specific rules to mitigate those risks. For example, a rule might address issues related to team members working on different tasks simultaneously.