If I found out that another team is working on the same project, my first step would be to reach out to them to verify my understanding. After obtaining the necessary information, I would analyze the objectives, scope, and progress of both projects to identify opportunities for collaboration and resource optimization. Subsequently, I would share these insights with all stakeholders, including both teams and senior management. I would suggest organizing a meeting with the other team and management to explore ways to potentially integrate our efforts and resources for improved efficiency, or to determine the best method for distributing the workload if integration isn't possible. This scenario certainly calls for transparent communication, teamwork, and a constructive mindset, and I would guide my team with these values in mind.