You need to open the messages of a failed step by right clicking on it and selecting 'display messages'.

Once the popup appears click on the tab 'Chain'.
Copy the variant from the popup to the variant of table rspcprocesslog
Copy the instance from the popup to the instance of table rspcprocesslog
Copy the start date from the popup to the batchdate of table rspcprocesslog

In a parallel session goto t-code se16 for table rspcprocesslog and display the entries with the following selections
Now open another session and goto tcode se37 -> RSPC_PROCESS_FINISH as the name of the function module and run it.

Now copy the entries of table rspcprocesslog to the input parameters of the function module like described as follows:
1. rspcprocesslog-log_id ->i_logid
2. rspcprocesslog-type ->i_type
3. rspcprocesslog-variante ->i_variant
4. rspcprocesslog-instance ->i_instance
5. Enter 'G' for parameter i_state (sets the status to green). it is the very important step as it will make status of process chain green
6. Now execute the Function Module(hitting the time button(trigger)).
Although the failed step will be red but this will send the Green signal to the steps in downstream which will result in resuming the execution of process chain to the end.

After this the chain will having RED status, but still the remaning the step if those are independent of above step will get executed without waiting for above step to get complete