As a portfolio manager, I need to distinguish between proposed projects, on-going development projects, projects in ramp down and closed projects, so that I can coordinate my organizations resources efficiently.
For example, if a project is about move from a proposal to development, various competencies need to prepare resources, so that the development can start swiftly.
I need to be able to inform my organization and customers about a product that is moving from active development to ramp down.
