During the execution phase of a project, a conflict arises between the project sponsor and a key stakeholder regarding the prioritization of requirements. The sponsor believes that the current prioritization aligns with the project objectives, while the stakeholder argues that their department's needs are not being adequately addressed. The disagreement escalates, causing delays in decision-making and jeopardizing the project timeline. As the project manager, which conflict resolution approach should you adopt to resolve this situation effectively?
Force a decision based on your authority as the project manager and the alignment with project objectives
Collaborate with both parties to find a win-win solution that addresses their concerns and aligns with project objectives
Smooth over the issue by emphasizing the importance of maintaining a positive relationship and focusing on areas of agreement
Compromise by finding a middle ground solution that partially satisfies both parties' needs