The hybrid approach in project management is chosen because it allows for the management of uncertainties regarding product definitions and requirements while also adhering to a specific delivery date due to regulatory requirements. This approach combines elements of both predictive (waterfall) and adaptive (agile) methodologies, enabling the project to start activities promptly and continue to refine the product specifications as the project progresses. It provides the flexibility to adapt to changes and uncertainties while maintaining a focus on the fixed delivery date1234.
References: The explanation is based on the principles of hybrid project management methodologies that blend agile and traditional PM approaches to capitalize on the strengths of each while mitigating their weaknesses, as discussed in resources from the Project Management Institute and other expert sources on hybrid project management1234.