This feature is available in all editions.
In this video Jerry takes an existing VersionOne Lifecycle instance and upgrades it to the Spring 2017 release. After the upgrade, he enables the new Team Process Management feature and define a process for some Teams. He reviews Storyboards, TeamRooms, and Reports at various stages of the process to help you understand what to expect when upgrading your instance.
If you don't want to see the pre-upgrade information, skip to 10:44