Identify the missing word in the following sentence relating to one of the principles:A PRINCE2...

According to PRINCE2®, a project should have tolerances defined for each project objective. Tolerances specify the permissible deviations in scope, time, cost, quality, risk, and benefits that are allowed before the deviation needs to be escalated to a higher authority. This is fundamental for the 'manage by exception' principle, allowing efficient use of time and resources by project management levels.References: PRINCE2® Foundation Manual