Scrum is a framework for project management that focuses on transparency, inspection, and adaptation. It uses artifacts like a product backlog and sprint backlog, and events like daily stand-ups, sprints, and retrospectives. The scrum team consists of a product owner, developers, and a scrum master. The product owner manages the product backlog, developers work to complete items in the sprint backlog, and the scrum master removes impediments. Scrum promotes transparency, inspection of progress, and adaptation through its lightweight and iterative process.