Not started
No one has done substantial work.
Discovery
Started early explorations, collection of thoughts, ideas, etc.
Planning
Work is being done defining the problem. Assuming that this will be on the roadmap.
Designing
Designer is actively working on this.
Design complete
Designs are complete, though engineering hasn't begun.
Engineering
Engineers are actively working on this.
Engineering complete
Code complete, though not launched.
Testing (internal)
Testing on staging.
Testing (external)
Testing (e.g., formal Beta)
Rolling out
Not yet 100% launched
Completed & analyzed
Experiment or launched results have been analyzed.