According to the 'continued business justification' principle in PRINCE2, project benefits must be aligned to the business objectives. This alignment ensures that the project remains viable and relevant throughout its life cycle, and that it contributes to achieving strategic goals. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

One of the six aspects of project performance to be managed according to PRINCE2 is 'timescales'.
Managing timescales involves planning and controlling when products will be delivered and ensuring the project remains within the agreed schedule.
PRINCE2 7 Foundation Source: PRINCE2 Foundation handbook and online resources

In PRINCE2, a risk is defined as any uncertain event or set of events that, if it occurs, will have an impact on the achievement of project objectives. This definition emphasizes the uncertainty and potential effect on objectives, rather than the certainty or immediate occurrence of an event. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

The process that provides information for the project board to review an updated project plan is 'Managing a Stage Boundary'. This process involves preparing the information needed for the project board to review the current stage's performance, reassess the project viability, and make decisions regarding the next stage, including updates to the project plan if necessary.
PRINCE2 Foundation Manual

During the Managing a Stage Boundary process, the Project Plan is updated with the latest estimated costs and time for the upcoming stage. This ensures that the Project Plan reflects current expectations and planning realities as the project progresses. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.