Agile methodology is a concept that allows for alternative project management methodology in order to respond to unpredictability. The methodology is often used by businesses in software development.
Agile product management occurs when all aspects of development, including requirements, design and prototypes, are constantly examined on a recurring and incremental basis. By viewing projects incrementally, there are opportunities to adjust the project and move in another direction to accommodate changing circumstances. This is in contrast to a more traditional project management paradigm where development proceeds according to pre-defined requirements, with little room for change. Under a traditional approach, the development team has only one opportunity to get the development right. Agile development allows businesses to optimize development by building the right product at greatly reduced cost, while adapting to change and getting to market quicker.