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Understanding factors that influence software development velocity is crucial for engineering teams and organizations, yet empirical evidence at scale remains limited. We analyze cycle time—a widely-used metric measuring time from ticket creation to completion—using a dataset of over 55,000 observations across 216 organizations. Through Bayesian hierarchical modeling that appropriately separates individual and organizational variation, we examine how coding time, task scoping, and collaboration patterns affect cycle time while characterizing its substantial variability across contexts. We find precise but modest associations between cycle time and factors including coding days per week, number of merged pull requests, and degree of collaboration. However, these effects are set against considerable unexplained variation both between and within individuals. Our findings suggest that while common workplace factors do influence cycle time in expected directions, any single observation provides limited signal about typical performance. This work demonstrates methods for analyzing complex operational metrics at scale while highlighting potential pitfalls in using such measurements to drive decision-making. We conclude that improving software delivery velocity likely requires systems-level thinking rather than individual-focused interventions.