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Field Update on Parent Record when the field in all associated Child Record are true.

Hi,

There are two Custom Objects, Object1 (Parent), Object2 (Child). Both are in MD relationship.

Object1 (Parent) has a picklist field "Statuc__c" with values InProgress & Completed.
Object2 (Child) has a field of CheckBox datatype "Completed__c".

Now. When the value of checkbox Completed__c is true in all the records of an associated parent record. then only the filed Status__c in Object1 should change to the value Completed.

How can I achieve this?

Your suggestion will be appreciated.