Scrum is an agile framework for managing complex projects. It emphasizes transparency, inspection, and adaptation. Key aspects of Scrum include short sprints with fixed durations, daily stand-ups, sprint planning and reviews, and retrospectives. The product owner prioritizes features in the backlog and the cross-functional team works to complete them in sprints. Applying Scrum principles like frequent delivery, transparency, and process improvement can help manage uncertainty, deliver value faster, improve quality, and eliminate waste.