The best course of action in this scenario is for the project manager to engage with the team to reprioritize tasks. This aligns with the PMP's emphasis on the project manager's role in leading and managing the project team. According to the PMBOK guide, the project manager should work with the team to assess the situation, reprioritize work, and apply resource optimization techniques to ensure that critical project milestones are met.
This approach is proactive and focuses on problem-solving within the team's capacity, rather than escalating the issue or sharing the challenges with stakeholders, which may not lead to a constructive solution.
References: The PMBOKGuide and the PMP Examination Content Outline provide guidance on the project manager's role in leading the team and managing project work, which includes resource optimization and prioritization of tasks12. The Professional in Business Analysis Reference Materials also support the approach of internal team collaboration and problem-solving to address project challenges3.