Managing a Stage Boundary Process: Estimated Costs and Time for the Upcoming Stage

D.

During the Managing a Stage Boundary process in PRINCE2 project management methodology, the product that is updated with estimated costs and time for the stage that is about to begin is the Project Plan.

The Managing a Stage Boundary process is performed by the Project Manager and is used to review the progress of the current stage, prepare for the next stage, and update the Project Plan. This process is important to ensure that the project remains on track and that any issues or risks are addressed before the start of the next stage.

The Project Plan is a key project management document that outlines the scope, objectives, timelines, and resource requirements for the project. During the Managing a Stage Boundary process, the Project Manager updates the Project Plan with the estimated costs and time for the stage that is about to begin. This includes updating the schedule, budget, and resource allocation based on the lessons learned from the current stage and the requirements of the next stage.

Updating the Project Plan is essential to ensure that the project remains aligned with the overall project objectives and that the necessary resources are available to complete the next stage successfully. By updating the Project Plan, the Project Manager can also identify any potential issues or risks that may impact the success of the next stage and take corrective action to mitigate these risks.

In summary, during the Managing a Stage Boundary process in PRINCE2, the Project Plan is updated with estimated costs and time for the stage that is about to begin to ensure that the project remains on track and that any issues or risks are addressed before the start of the next stage.