The purpose of the 'Initiating a Project' process in PRINCE2 is to establish solid foundations for the project, ensuring that there is a common understanding of the reasons for the project, the expected benefits, how it will be managed, and what its products should deliver. References: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

Explanation/Reference:
Reference https://www.prince2.com/blog/the-7-principles-themes-and-processes-of-prince2/

The 'benefits management approach' is the management product the project manager should produce to plan reviews for confirming whether the expected measurable improvements have been achieved. This approach outlines how and when the benefits of the project are to be measured and assessed, aligning the project's deliverables with the intended outcomes.References: PRINCE2 7 Foundation documentation on benefits management.

One of the key objectives of the Initiating a Project process is to tailor the organization's project management method to suit the specific requirements of the project. This involves adapting processes, controls, roles, responsibilities, and techniques to ensure they are appropriate for the project's context. References:
PRINCE2 Foundation official documentation and study materials.

Section: Volume B
Explanation/Reference: http://prince2.wiki/Closing_a_Project#Objective