Is anyone using Initiatives in Buyer Work Center?

I'm interested to learn if anyone is using Initiatives in the EBS Buyer Work Center and if so, how.

In my business we're attempting to use Initiatives to track pre and post award milestones (tasks) for Requisitions and Orders. The type of tasks vary by expenditure type but an example of pre-award tasks, each with Schedule, Forecast and Actual Dates would be Start Requisition, Issue for Approval, Issue to Procurement, Bidders List Approved, Issue for Bid, Bids Received, Evaluation Complete, Award.

Examples of Post Award Tasks would be Award, Issue for Approval, Supplier Acknowledgement Received, Kick Off Meeting, Manufacturing Started, Manufacturing Complete, First Shipment, Last Shipment, First Receipt, Last Receipt.