Upgrading form Laravel 8.x to Laravel 11.x

Hi, I am fairly new to Laravel, the project I am currently working with requires me to upgrade from Laravel 8.x to Laravel 11.x while fixing and developing things. I have 2 question on how to do this

1. How am I to upgrade framework's version.
2. How should I approach developing/fixing on the existing code.

Since I am working alone here I could use some guidance. Below is my composer.json

{
	"name": "laravel/laravel",
	"type": "project",
	"description": "The Laravel Framework.",
	"keywords": [
		"framework",
		"laravel"
	],
	"license": "MIT",
	"require": {
		"php": "^7.3|^8.0",
		"aws/aws-sdk-php": "^3.263",
		"fruitcake/laravel-cors": "^2.0",
		"guzzlehttp/guzzle": "^7.0.1",
		"intervention/image": "^2.7",
		"laravel/framework": "^8.75",
		"laravel/sanctum": "^2.11",
		"laravel/tinker": "^2.5",
		"maatwebsite/excel": "^3.1",
		"spatie/laravel-sluggable": "^2.6"
	},
	"require-dev": {
		"facade/ignition": "^2.5",
		"fakerphp/faker": "^1.9.1",
		"laravel/sail": "^1.0.1",
		"mockery/mockery": "^1.4.4",
		"nunomaduro/collision": "^5.10",
		"phpunit/phpunit": "^9.5.10"
	},
	"autoload": {
		"psr-4": {
			"App\\": "app/",
			"Database\\Factories\\": "database/factories/",
			"Database\\Seeders\\": "database/seeders/"
		}
	},
	"autoload-dev": {
		"psr-4": {
			"Tests\\": "tests/"
		}
	},
	"scripts": {
		"post-autoload-dump": [
			"Illuminate\\Foundation\\ComposerScripts::postAutoloadDump",
			"@php artisan package:discover --ansi"
		],
		"post-update-cmd": [
			"@php artisan vendor:publish --tag=laravel-assets --ansi --force"
		],
		"post-root-package-install": [
			"@php -r \"file_exists('.env') || copy('.env.example', '.env');\""
		],
		"post-create-project-cmd": [
			"@php artisan key:generate --ansi"
		]
	},
	"extra": {
		"laravel": {
			"dont-discover": []
		}
	},
	"config": {
		"optimize-autoloader": true,
		"preferred-install": "dist",
		"sort-packages": true
	},
	"minimum-stability": "dev",
	"prefer-stable": true,
	"Resources": {
		"Table": {
			"Type": "AWS::DynamoDB::Table",
			"Properties": {
				"AttributeDefinitions": [
					{
						"AttributeName": "id",
						"AttributeType": "S"
					}
				],
				"BillingMode": "PAY_PER_REQUEST",
				"KeySchema": [
					{
						"AttributeName": "id",
						"KeyType": "HASH"
					}
				],
				"StreamSpecification": {
					"StreamViewType": "NEW_AND_OLD_IMAGES"
				}
			}
		}
	}
}