At the beginning of a Sprint, the Product Owner presents an ordered and up-to-date Product Backlog to the Development Team. The Development Team selects an achievable set of the highest ordered items. This is their forecast. They also create a Sprint Goal together with the Product Owner and a plan on how to develop those items and achieve the goal.
The Development Team proceeds to work through their plan on a daily basis, synchronizing their activity in a short daily meeting known as the Daily Scrum. The Scrum Master helps the Development Team maintain focus and be as productive as they can be every day.
At the end of the Sprint, the Development Team has built a potentially releasable “Done” Increment of functionality. The Increment is inspected by interested stakeholders (users, customers, sponsors, management, etc.) in the Sprint Review. Feedback is added to the Product Backlog, refined by the Scrum Team, and ordered by the Product Owner.
The Scrum Team then inspect their process, practices, and performance in order to make improvements to the way they work in the Sprint Retrospective.
The above is repeated until a point when there is no value in continuing the development of the product.