During a software development project, you discover that the integration of a new software module is causing conflicts with the existing system, severely impacting project progress. This risk was previously identified but has now become an issue. What is the optimal action to take in order to resolve this issue and continue with the project?
Defer the problem to the next phase of the project where more resources might be available to handle the situation.
Acknowledge the issue in the next stakeholder meeting and proceed with the current project tasks until a better solution presents itself.
Collaborate with the project team and relevant stakeholders to assess the issue's impact and identify an optimal solution, then take corrective action.
Identify and communicate to the stakeholders who is at fault for not addressing the risk before it became an issue.