Final answer:
The project manager must make compromises to balance the differing expectations of stakeholders regarding performance, cost, and time. Compromise is common when parties agree on overall goals but differ on the details, and is a key aspect of collective decision-making and bargaining to resolve conflicts.
Step-by-step explanation:
Conflicting expectations among stakeholders related to performance, cost, and time will require the project manager to make appropriate compromises in order to balance competing demands related to these objectives.
The answer is c) Compromises. In the context of collective decision-making, when participants have general agreement on the goals but differ on the specifics, they are more likely to reach a compromise.
For instance, if stakeholders in a project are all aiming to reduce costs but disagree on where the cost reductions should be made, they might negotiate and agree on a balanced approach that partially satisfies each party's preferences.
Additionally, in any decision-making scenario, whether choosing a restaurant or addressing resource allocation in politics, the necessity of bargaining and compromise is often fundamental to resolving conflicts and getting closer to a unanimous decision.
The appropriate response to conflicting expectations among stakeholders related to performance, cost, and time is to make compromises in order to balance competing demands related to these objectives.
Compromise involves giving ground on what is sought to arrive at an agreement.