Scrum is a framework for managing product development that uses short cycles of work called sprints, daily stand-ups to track progress, and iterative planning to adapt to changes. Key aspects of Scrum include self-organizing cross-functional teams, time-boxing work into sprints, and artifacts like product backlogs and sprint backlogs to track work. Scrum roles include the Scrum Master, Product Owner, and Team. Variations like Scrum-ban blend Scrum with Kanban for maintenance work.