An iteration is a concept used within CMS Projects for the purpose of organizing issues into iterations. 

1. Open an issue view that shows iterations. 
2. Click on the row containing the iteration name. The Properties will display to the right. You can change the Name in the Properties.

Simple Example View Configuration

<View>
  <Iterations/>
  <Columns>
    <IssueIDColumn align="right"/>
    <NameColumn width="300"/>
  </Columns>
  <Filter>
  </Filter>
</View>