Help: My manager wants to measure my team’s productivity by velocity

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P2l asks:

My manager has recently really been pushing to use velocity as a target and measure of productivity. We are currently working at an average velocity of 50 story points. My manager wants us to increase it by 40 percent to 70 story points (with no increase in team members). If we don’t achieve this increase he wants us to deliver a full break down explaining why.

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