<p>Hybrid systems, which integrate both continuous and discrete dynamics, present significant challenges when it comes to reliability assessment due to their complex interactions. In this paper, we introduce a novel method designed to improve the reliability assessment of the Quad-Serial Parallel-Serial System, a system known for its hybrid nature. Our study examines this system from two different perspectives to provide a thorough analysis. The first perspective involves a detailed evaluation of the overall reliability and some performance characteristics of the system. The second perspective focuses on the coverage of various operational states, specifically assessing how each state uniquely contributes to the system's availability, reliability, and associated costs. By combining these two approaches, we gain a more realistic understanding of the system's behavior and performance.</p>