The objectives of the 'Managing a Stage Boundary' process include providing the project board with information about the performance of the current stage and reviewing and updating the project management team structure and role descriptions if necessary. These objectives are critical to ensuring that the project adapts to any changes and continues to align with its objectives efficiently. References: PRINCE2 7 Foundation Handbook and official training materials.

The purpose of the 'Progress' practice in PRINCE2 is to provide a mechanism to monitor and compare the actual project progress against the planned objectives, particularly in terms of time and cost. This monitoring helps in identifying any deviations from the plan and facilitates timely corrective actions to keep the project on track.
= PRINCE2 7 Foundation Training Manual and official PRINCE2 website documentation

Setting tolerances for the three levels of plan (project, stage, and team) in PRINCE2 applies the principle of
'manage by exception'. This principle enables efficient use of management time by focusing on deviations from the plan only if they exceed predefined tolerances, rather than managing every small detail. References:
PRINCE2 Foundation Handbook, Manage by Exception section.

PRINCE2 mandates the use of management stages in project management. These stages are critical control points used by the Project Board to review progress, assess risks, and make decisions about the project's future. This structure allows for regular monitoring and controlling of the project by breaking it down into manageable sections. References: PRINCE2 Foundation official documentation and study materials.

The responsibility of a risk owner in PRINCE2 involves managing, monitoring, and controlling all aspects of the risk they are assigned. This includes ensuring appropriate risk responses are planned and implemented effectively. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.