Recalculate the project, figure out what went wrong and talk about it. Then reassign the project and collaborate until progress has been made.
Extend unconditional support-- take responsibilities for the team performance-- Bring forth innovative ideas and thinking that can easily accommodate with the existing line of operations to bring convincing results-----here actions are more powerful than any words or console.
You have to go back to the good basic fundamentals, not to reinvent the wheel but to go back to the good manners, visions, missions, goals, objectives, planning,..............
gently advise him /her learn from failure, we are all team, work together for acheivement of goals and success.