SCRUM is a framework for managing complex projects that emphasizes iterative development, daily self-organization, and regular inspection of progress and results. Key components of SCRUM include roles like the Product Owner, Scrum Master, and Development Team. Artifacts include the Product Backlog, Sprint Backlog, and Increment. Events in each Sprint include Sprint Planning, Daily Scrums, Sprint Execution, Sprint Review, and Sprint Retrospective. The goal is to optimize predictability, risk control, and value delivery through short cycles of work called Sprints.