Project statuses are the workflow stages on delivery projects (for example Not Started or Completed). You add and manage them under Project Settings. Every delivery project in the account uses this shared list. You need the Customisation permission; account admins already have it.
Open Project Settings
Open your profile menu and go to Settings.
Under Templates, open Project Settings.
Statuses live on this Project Settings page, not on individual project structure templates.
Add a status
In the Project Statuses section, select Add Status.
Enter a Stage Name.
Optionally tick Default Status For New Projects? if new projects should start on this status.
Optionally tick Nominates the project as complete? if this status should count as a complete (closed) project. Complete statuses are filtered out of the Projects list when Status is left at All active statuses.
Choose a Colour.
Select Add Status.
The new status is available when you create or update any delivery project.
Reorder, edit or remove
Drag the handle beside a status to change list order.
Use the edit control to change the name, default and complete flags, or colour.
Delete a status you no longer need. The list must keep at least one status.
To restore a deleted status, open View Deleted Template Details on the same Project Settings page, then restore it.
Opportunity statuses
Opportunity workflow statuses use the same pattern under Settings → Opportunity Settings → Add Status (also needs Customisation). Set a Stage Name, colour, default for new opportunities, and whether the status nominates the opportunity as complete. Opportunity statuses also have success and lost options: Is the default success status for your opportunities?, Is the default lost status for your opportunities?, and Status Type.
Related
Drum Permissions (Customisation)