The management product used to record relationships between specialist products in PRINCE2 is the Configuration Item Record. This record includes information on each product's status, version, and interrelationships, providing a comprehensive overview of how different project outputs are connected and managed.References: PRINCE2 Foundation Manual

According to PRINCE2, an effective project board must have the ability to delegate appropriately. This characteristic is essential to ensure that decisions and tasks are assigned to the right members of the project management team, facilitating efficient governance and management of the project. References: PRINCE2
7 Foundation Handbook and official training materials.

Explanation/Reference:
Reference https://www.whatisprince2.net/prince2-process-managing-product-delivery.php

The purpose of the 'Initiating a Project' process is to provide the Project Board with just enough information to decide whether to approve the initiation stage. This process involves the development of a more detailed Business Case and Project Plan, which are crucial for the Project Board to assess the project's viability and decide on its initiation confidently. References: PRINCE2 official guide and syllabus.