Pursuits can have one of three statuses:
Active
Archived
Submitted
This lets your team sort & filter your Pursuits by status, and also is relevant for the Search and AI Chat capabilities in Shred to help surface the most relevant content for you and your team.
To set or change the status of a Pursuit:
Go to the Pursuits page, then select a specific Pursuit.
Click on the "About" button in the top-right hand corner
Under "Status" you can now set or change the status of the Pursuit.

