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Trigger custom validation on Project Status Changes

Hi Folks - Is there a feature in cloud where you can add a custom validation / code whenever project status changes get triggered?

As an example.

  1. User change the Project Status from Active - Close

We want the system to do some project checks and validation at the background before it can get closed. If it fails that validation it will not get closed and can provide the user a message prompt for the corrective action that can be taken. If it passed the validation then only the project can get closed.

Thanks!

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