The rapid evolution of IT projects has driven the transformation of project management methodologies, from traditional waterfall approaches to agile frameworks and, more recently, hybrid models. This systematic literature review investigates the evolution of agile methodologies into hybrid frameworks, analysing their implementation challenges and success factors. We identify key trends through PRISMA-guided analysis of peer-reviewed studies from the last 8 years. Hybrid methodologies emerge from agile limitations in large-scale and regulated environments, combining iterative flexibility with structured governance. Agile has several implementation challenges, leading to hybrid methods, and the success hinges on leadership support, tailored process integration, and continuous improvement mechanisms. The study explores the need for contextual adaptation over rigid frameworks, offering practical insights for organisations navigating hybrid transitions.