Agile Project Management with Microsoft Project [Update]

Agile is a methodology that encourages continuous iteration of development and testing throughout the software development lifecycle.
Agile methodology is now getting popular for project management, and recently Microsoft has also released Agile features along with traditional waterfall methodology in MS Project.
There are a several agile principles that commonly apply to agile project management:

• Project/Product Vision– A short planning session to outline the overall objectives of the project and to ensure that all work being completed in each iteration is as per the project vision.
• Sprint Planning–Sprint is the fundamental element of Agile. In Sprint Plan, the team categorizes work items on which they are going to work within the Sprints.
• Scrum– This is a brief 10-15 minutes meeting where the team members review the current status of the Sprint and plan for remaining items of the current Sprint.
• Release Planning– After number of iterations, a release is processed. In release planning there is a short session to define the content and duration of each release.
• Product Backlog– Product backlog is the repository of all work items of a project. The project owner can update the work items as per the business requirements for the project.
• Agile Reports– There are various Agile reports, which shows the current status of Sprint for daily tracking of completed work items versus remaining work items for the current Sprint.

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How to create agile projects in MS Project-
Open MS Project, here you will see the option of choosing an agile template. Currently there are two types of templates readily available – Scrum and Kanban.