The Rapid Application Development (RAD) methodology is an agile project management strategy that minimizes planning stages and maximizes prototype development time, allowing for enhanced visibility, accountability, and flexibility in software development projects. The RAD approach follows four phases: defining requirements, creating a prototype to demonstrate core functionality, gathering user input and feedback, and finally constructing the product based on that feedback. This methodology is known for its speed, cost-effectiveness, and developer satisfaction, but it also requires consistent access to feedback and client buy-in, making it less suitable for complex projects or those with variable requirements. RAD is particularly well-suited for simple projects where a minimal planning phase is acceptable, and developers can quickly implement changes based on user input.