When we convert parabolic variational inequality into ordinary partial differential inequality (ODI), can we solve that ODI as we solve ordinary differential equations, using different methods as described for ode?
You can use a good stiff ODE solver along with the Galerkin method for the spatial part of the problem, as long as the intersection of the Galerkin subspace $V_h$ and the closed convex set $K$ "fills up" $K$ as $h\to0$. You will need to solve one or more finite dimensional variational inequalities at each time step. There are a number of ways of doing this, ranging from using optimization algorithms to using non-smooth Newton methods. Because of the non-smoothness of the solution, high order methods are usually not recommended; implicit Euler in time, piecewise linear in space is usually enough.