This feature is available in Enterprise and Ultimate editions.
Because terminology (Scrum, XP, DDSM, etc.) varies across the industry, you can configure Lifecycle to use the terms specific to your organization. This article explains how to customize (or localize) terms used the main navigation menu by overriding the default terms.
To change terminology, your Admin Privileges role must be set to "System Administrator".
Select Admin > System Configuration > Configuration > Terminology.
For each term you want to change, click in the Label cell, and then type the new term. If you leave the fields blank, the default term will be used.
To change the navigation label for Iteration Planning and Iteration Tracking (or Sprint Planning and Sprint Tracking), change the Timebox row in the Asset Label column.