we adapted the built in settings to our team. Mavenlink itself cant be customized, at least not status of the project, but it have about 6-8 settings per current state, from " in proposal" to "project completed" the paid version has a very extensive reporting and even personnel scheduling sections. Overall it's pretty usefull, not prefect, I wish it had some more trello type cards for watching a project easier, But, it's a big step from our last tool smartQ http://www.getsmartq.com/