The Greedy Method is an algorithmic approach used to solve optimization problems by making a series of choices. At each step, it selects the option that seems the best at that moment, without considering the overall consequences. This method is often applied in problems like coin change, knapsack, and minimum spanning tree. While the Greedy Method can provide quick solutions, it does not always guarantee the optimal solution for every problem. It works best when the problem exhibits the greedy choice property and optimal substructure, meaning local optimal choices lead to a global optimal solution.