Each item within a project sits at a status in the workflow. This allows you to keep track of where that item is in the production and review process. You can set due dates for each workflow status to help keep the project on track.
Your workflow is unique to each project, and is fully customisable from the workflow tab, where you can edit this to match the steps that your content goes through to get published.
Move your items through the workflow as each status is completed.
You can see an overview of where a project is at from the project dashboard, or from the Overview tab within a project. This shows you what percentage of items are at each workflow status in the project.
You can also see in the project Overview tab a list of all the items that you're assigned to, and a feed of recent project activity.