Explanation
According to the PMBOK Guide, a hybrid project is a project that uses a combination of predictive, adaptive, and iterative approaches. A hybrid project may have multiple dependencies with other projects, which can increase the risk of schedule delays, scope changes, or resource conflicts. To reduce this risk, the project manager should assess consolidated project plans for dependencies, gaps, and continued business value. This involves reviewing the project plans of all related projects, identifying any interdependencies or overlaps, and evaluating the alignment of the project objectives and deliverables with the organizational strategy and stakeholder expectations. By doing this, the project manager can ensure that the project is on track, avoid any unnecessary rework or duplication, and optimize the use of resources and time. References:
1: A Guide to the Project Management Body of Knowledge (PMBOK Guide), Seventh Edition, page 21
2: A Guide to the Project Management Body of Knowledge (PMBOK Guide), Seventh Edition, page 47
3: A Guide to the Project Management Body of Knowledge (PMBOK Guide), Seventh Edition, page 49