The objective of this post is to introduce beginners to the functionality of Status Selection Profiles. It is used exclusively within SAP PS reporting.
Many projects are ignoring this functionality and it is never on the priority list for the implementation team.
On the other hand it is one of those "quick wins" that can create a business value, being both simple and system standard.
Most of standard SAP PS reports have the possibility to include a Status Selection Profile as part of the selection criteria.
It works as a filter based on the combination of statuses.
If user statuses are making part of the system design the functionality of Status Selection Profile only gain additional weight, but even for system designs without user statuses it can be a very useful tool taking little effort to implement.
You need to specify the Status Selection Profile using this menu icon 
(usually it is on the most right hand side on the icons bar).
Further down I am going to illustrate it with two basic examples.
Example 1:
Many big projects can contain WBS-elements that are already Closed and not Closed at the same time. From the management perspective it makes sense to focus only on the live parts of the project and to reduce the report output only to the ongoing activities. That can be done by filtering out Closed WBS-elements, also you can consider to filter out created, but not released or partially released WBS-elements too. In the below example you can see a part of customizing to exclude Closed or Created WBS-elements:
Example 2:
If you have active availability control mandatory for your projects, but no system control to make sure it is in place the simple Status Selection Profile can also help you running a quick sanity check on WBS master data. On the below screen you can see a part of customizing to report the Released WBS-elements that are missing Availability Control:
Thank you for your reading time and hope you did liked it.