Applying the 'tailor to suit the project' principle in PRINCE2 helps make project management less bureaucratic by allowing for adaptations based on the project's size, complexity, environment, and stakeholders' needs. This flexibility reduces unnecessary overhead and ensures that the project management approach is both effective and efficient, enhancing overall project delivery without being overly constrained by rigid processes.
PRINCE2 Foundation Manual

A risk budget should be used to implement contingency plans (2) and actions to avoid a risk from occurring (3). This budget is set aside to fund specific actions that are part of the project's risk management strategy, enabling proactive and reactive responses to identified risks, ensuring the project remains on track despite uncertainties.References: = PRINCE2 7 Foundation handbook and online resources

When the change authority asks for more information regarding a proposed change, this occurs during the
'Assessing issues' step of the 'issue management technique' in PRINCE2. This step involves evaluating the impact and implications of issues or changes, including requesting additional information necessary to make informed decisions.References: PRINCE27 Foundation resources on issue and change management.

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

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