The objectives of the 'Controlling a Stage' process in PRINCE2 include focusing on the completion of work within agreed tolerances and ensuring that all stage products meet the agreed quality expectations. These objectives are central to maintaining control over the stage and ensuring that the project delivers outputs that are fit for purpose.References: = PRINCE2 7 Foundation Training Manual and official PRINCE2 website documentation

To monitor the progress of a stage effectively, the project manager should review both the Highlight Report and Checkpoint Report. The Highlight Report provides a summary of the stage status to the Project Board, detailing overall progress and identifying any major issues. The Checkpoint Report, on the other hand, offers detailed updates from team managers or team members on the progress of their respective Work Packages.
Together, these management products give a comprehensive view of stage progress.References: (PRINCE2
7 Foundation Handbook, AXELOS)

A risk budget may fund the implementation of a fallback plan, which is activated if a risk materializes. This ensures that resources are available to manage and mitigate the impact of risks on the project, aligning with proactive risk management strategies in PRINCE2. References: PRINCE2 7 Foundation Handbook and official training materials.

The 'Managing a Stage Boundary' process in PRINCE2is designed to confirm that the project remains viable and continues to align with organizational strategic objectives. This process involves reviewing the project's performance, updating the project plan, and reconfirming the business case to ensure that the project continues to deliver value as expected.References: = PRINCE27 Foundation Training Manual and official PRINCE2website documentation

Risk response refers to the actions identified and implemented to bring the risk exposure to an acceptable level. These actions are part of the risk management process and aim to reduce, avoid, transfer, or accept risks depending on their potential impact on the project. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.