Tracking Status changes

The Last Modified Time field can be set to only look at one field, but it’ll overwrite itself if you have more than one state (for instance if you have “potential” “in progress” and “launched”). The other issue is if the states ever go backward. 

For precise granularity it might be better to use an automation with “When record matches condition” that writes the automation fire time into a date field.

For reporting this kind of stuff I always like to go with Formula fields that interpret a date/time string into single select month and single select year options 

Datetime_Format({DATEFIELD}, 'MMM')
Datetime_Format({DATEFIELD}, 'YYYY')

That way you can group or filter to get exactly the timeframe you want. If you really just need to track on a yearly basis you could scrap the month one. 

Try creating a new table where each record represents a single Status change, and populate it with an automation that triggers whenever the Status field gets updated and creates a record in said table?

This’ll let you easily do reporting, filtering etc.  It also lets you handle statuses going backwards as well as tracking time between statuses if you want

---

The main downside to this is that if you have a lot of status changes you’ll max out your record limits real quick (Teams plan has 50k records per base, Business is 125k currently)

To mitigate this you can either:

1. Set up an automation that triggers on a schedule to delete stuff that’s outside the window you care about, a year in your context
2. Set up another base where you sync your Projects table into it and put the Status tracking table here.  That base then just becomes a Status tracking thing and doesn’t add to your main base’s record limits