I have created single drop down statuses for my projects I’m working on (In Progress, Not Started, Recently Completed, Roadblocked, and Archived). I’d like to create a formula that says "If the project status is anything other than Archived and Recently Completed, AND has a past Target Completion Date that’s before today, status is: PAST DUE. Otherwise, ON TRACK.
Ideally the way I’d like this to show up is to have another column with PAST DUE and ON TRACK options in a single select drop down, and depending on what the formula says, the drop down option changes. Is that possible?