Formula Grouping Phase values based on Phase and Status values

I would like to group a few Phase Values together based on the Phase and Status Names.

The details are:

If Status = "New" or "Active" and Phase = "Pipeline" display "Pipeline"

If Status = "New" or "Active" and Phase != "Production" display "Active"

If Status = "On Hold" Display Hold

If Status = "New" or "Active" or "Completed" and Phase = "Production" display "Live"

Does anyone know if this is possible and if so, how I can accomplish this?

Need an account? Sign Up

Have an account? Sign In