Project status is statuses are used to keep a track of the projects a project's current status.
To create a new project status, go to settings > Edit status > SETTINGS/EDIT STATUS and then New project status as shown below
When creating a new status you can set it to be a in progress status or closed status which corresponds to if the project is open or closed.
You can add Project Types to at a Status. You will only be able to choose the Status' associated to at a Type.
It's also possible to set up an automatic status change in the following scenarios:
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