In PRINCE2 a project is broken up into a number of management stages. Every project must have a stage called the initiation stage which is where a detailed business case, project plan, and strategies for managing risks, issues, changes, quality, products and communications are developed. Subsequently, there are one or more “delivery” stages which are management stages the where specialist products are developed.
Stages form 'go/no-go' decision points
Before proceeding to the next stage, the updated business case is reviewed to determine whether the project continues to have business justification. If it does, then the project can move into the next stage. As previously mentioned, if business justification no longer exists, the project should be closed. Therefore in PRINCE2, a management stage boundary forms a “Go/No go” decision point and forms the main control for the project board, which is the main decision maker on a project.