Parts is configured with the Lifecycles shown below.
New;Checked;Released;Production;Deprecated;End of Life;Obsolete
Users can add or edit lifecycles by editing the configuration file.
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The default LifeCycle is New when the record is created.
The Deprecated, End of Life and Obsolete life cycles can be used to discourage users from placing components in a design.
Include the life cycle parameter in your BOM and review with your team or customer which parts in the design have the greatest risks.
Risks:
Parts which have new symbols or footprints are the highest risks parts.
Checked parts are new parts which have been checked against the datasheet, preferably by a second set of eyes.
Released parts are parts that have been released to customers.
That's It.