You should also specify the schema of the table or you might get this error:
Msg 15248, Level 11, State 1, Procedure sp_rename, Line 238 Either the parameter @objname is ambiguous or the claimed @objtype (COLUMN) is wrong.
If it is a deployment script I would also recommend adding some additional security to it.
IF EXISTS (
SELECT 1
FROM sys.columns
WHERE
name = 'OldColumnName' AND
object_name(object_id) = 'TableName'
) AND
NOT EXISTS (
SELECT 1
FROM sys.columns
WHERE
name = 'NewColumnName' AND
object_name(object_id) = 'TableName'
)
EXEC sp_RENAME 'SchemaName.TableName.OldColumnName', 'NewColumnName', 'COLUMN';