Everybody while working on a site do face a situation where sometime the slump or the workability of the concrete drops down and placing of such concrete becomes a huge task as nobody wish to place with reduced workability.
Various factors do impact the workability such as retention time, performance of admixture, increased water absorption in aggregates, moisture correction for maintaining correct WC ratio, temperature of atmosphere and of cement.
One need to identify the causes of slump drop and need to take action on it accordingly to prevent its recurrence.
IS code do specify the addition of admixture to regain the workability is allowed up to some extent and trails should be conducted for same to assess the effect of additional admixture quantity on setting time of the concrete for deciding the upper limit of admixture dose which can be added safely in case concrete looses its workability.
Addition of admixture may impact on the setting time of concrete but will not affect the strength parameter.
Addition of water do always results into reduction in strength of the concrete, so it is always better not to experiment with water.