This research presentation evaluates the role of Agile and Lean methodologies in the IT industry. The study framework includes identifying the research topic, analyzing the problem statement, performing a survey, literature review, and proposing a solution approach. The findings show that collaboration of Agile and Lean increases cost and reduces time, offers effective communication, and enables better relationship between business and IT. The recommended solution is a collaborative method that includes Agile and Lean project management methodology.