It's important to remember that this status-related information is always a means to an end, where the end is the development, testing, and release of software products to generate revenue.

The Incident record type captures the description, headline (a short description), owner name, priority, severity, related software release records, related Incident records and related work requests.

As long as you have the software installed, you can use similar techniques to publish information in a Lotus Notes database in a variety of formats.