Alliance leader Naomi Long said that without more flexibility and goodwill “we are going to struggle to make it to the next election”.
She said the institutions were always in a precarious position adding “it’s a possibility” that the institutions could collapse because either big party can walk away.
“Everyone needs to take a step back and deep breath. Focus on the next 10 months on what we can deliver.”
Diane Armstrong of Ulster Unionist Party said she believes the only way forward is the stability of the Northern Ireland institutions
She said they had “a positive and frank engagement” with the secretary of state and agreed with the other parties that sufficient funding was needed.
“So much has been achieved to get it to [this] point, it is an absolute responsibility on everyone to make that successful.
“Similarly to Sinn Féin, we would call on the DUP to be responsible in their Executive position, both those parties, to agree to reform to make Northern Ireland work.”
Sir Chris has been visiting Northern Ireland on Friday for a series of engagements, which included meeting the political parties at Hillsborough Castle.
It was his first visit since he was appointed to the job following Prime Minister Andy Burnham’s Cabinet reshuffle earlier this month.