Your Portfolio gives you a high-level peek into your projects status as shown here:
In order to receive project status updates, you'll need to complete at least one milestone-tied task.
Not Started: This project either has no Milestones or you've not yet completed your first milestone-tied task.
In Progress: You've completed at least one milestone-tied task and your deadlines are healthy.
Completed: All of your Milestones are complete.
Overdue: You've got an overdue Milestone with at least one outstanding task.