What are the primary ways of resolving conflict? Which is most effective?

What will be an ideal response?

Project managers must learn to develop flexibility in dealing with conflict, knowing when to intervene versus when to remain neutral. Conflict can be managed in terms of five alternatives:
Mediate the conflict — The manager can employ defusion or confrontation tactics to try and find a solution.
Arbitrate the conflict — The project manager may decide to impose a judgment on the parties and declare a winner.
Control the conflict — The parties can be allowed to cool down for a while or the combatants can be physically separated.
Accept the conflict — Not all conflicts are manageable so the project manager may decide the team can accept the conflict and still accomplish the mission.
Eliminate the conflict — In some situations, the conflict may be so disruptive that it threatens the project, so one team member must be eliminated by any means necessary.