What are some best practices for managing dependencies in PHP projects?

Managing dependencies in PHP projects is crucial for maintaining code quality and ensuring smooth development workflows. One best practice is to use a package manager like Composer to handle dependencies and their versions efficiently. It's also important to regularly update dependencies to benefit from bug fixes and new features while keeping an eye on potential compatibility issues.

```php
// Example using Composer to manage dependencies
// Install Composer: https://getcomposer.org/download/
// Create a `composer.json` file in your project directory

{
    "require": {
        "vendor/package": "^1.0"
    }
}
```

This code snippet demonstrates how to define dependencies in a `composer.json` file using Composer. The `^1.0` version constraint allows Composer to install the latest compatible version of the `vendor/package` package.