What do the different project statuses mean?
There are a variety of “statuses” a project can have. Each status represents the state of a project as it moves through its lifecycle. The statuses for a project are: Proposed, Active, Completed, and Canceled.
Because project statuses are manually controlled by you we hesitate to give each status a strict definition. They’re intended for labeling purposes only to help you with the organization of your projects.
To learn more about projects visit the Projects support articles.