Let's clearly understand the problem
Without having to go again over all that have already been said, I would invite all of us to review the following definitions, bearing in mind that something went wrong somewhere and that "wrong" first of all, needs to be identified, prior to providing a solution:
1- A project is "a temporary endeavor undertaken to create a unique product, service or result, "in which temporary means a finite (fixed) duration and unique denotes a set of circumstances (the project) that, although resembling similar circumstances in many aspects, have not been previously encountered (PMP).
2- A Project Manager is the individual accountable for the successful delivery of a project (usually from inception to completion).
3- To succeed, it is essential to develop an effective leadership style which facilitates successful delivery through team management.
4- Leadership is a process by which a person influences others to accomplish an objective and directs the organisation in a way that makes it more cohesive and coherent
In view of the above definitions, I would rather recommend the combination of Tom Mochal and Steve Romero's solutions.
They have separately broken down the issue and displayed the step-by-step measures to take for the "turn around".
Tom provided an overview of the problem foundation and an approach to the solution, while Steve went straight to the solution.
BRAVO...