Why is the upgrade of RHEV Manager from 3.0 to 3.1 failing with dependency errors regarding the 'ovirt-engine-sdk' package?

Issue

• Upgrade of RHEV Manager from 3.0 to 3.1 is failing
• From the ovirt-engine-upgrade log file associated with the attempt:

2013-05-09 09:22:38::DEBUG::common_utils::378::root:: stderr = Error: rhevm-sdk conflicts with ovirt-engine-sdk-1.3-1.el6.noarch

2013-05-09 09:22:38::DEBUG::common_utils::379::root:: retcode = 1
2013-05-09 09:22:38::ERROR::upgrade_utils30::247::root:: Traceback (most recent call last):
  File "/usr/share/ovirt-engine/scripts/upgrade_utils30.py", line 241, in upgrade
  File "/usr/share/ovirt-engine/scripts/common_utils.py", line 382, in execCmd
Exception: Error: Yum update failed

2013-05-09 09:22:38::ERROR::rhevm-upgrade::1443::root:: Traceback (most recent call last):
  File "/usr/bin/rhevm-upgrade", line 1411, in main
  File "/usr/bin/rhevm-upgrade", line 690, in runFunc
  File "/usr/share/ovirt-engine/scripts/upgrade_utils30.py", line 257, in upgrade
Exception: Error: Upgrade failed