During the 'Initiating a Project' process in PRINCE2, it is the responsibility of the project board to specify the required level of management control. This includes defining how the project will be managed, monitored, and controlled throughout its lifecycle. The project board ensures that the project remains viable and that management decisions are made with the appropriate level of oversight.References: = PRINCE2 7 Foundation handbook and online resources

According to the 'continued business justification' principle in PRINCE2, a justifiable reason for a project is required before any work to start the project begins. This ensures that projects are initiated only when there is a clear business need, aligned with organizational objectives, and there is an expectation of value creation.
The business case is developed during the initial stages of the project and is maintained and reviewed throughout the project lifecycle.
PRINCE2 Foundation Manual

The principle of 'Learn from experience' in PRINCE2 mandates that project teams should continuously use previous lessons to improve the outcomes of current and future projects. By reviewing end project reports from similar past projects to understand and correct underestimations, the project manager is directly applying this principle to refine and optimize project planning and execution.References: = PRINCE2 7 Foundation Training Manual and official PRINCE2 website documentation

Section: Volume B
Explanation/Reference: https://mplaza.pm/prince2-benefits-management-approach-template/