Add a new post status in the post progression

I run a site with about 30 authors and 3 editors. Authors submit posts for review, and editors schedule or publish them. It would be useful to have another post status of “Editing” between Pending Review and Scheduled/Published. I realize there’s a warning when someone else is editing a post, and that’s probably significant enough, but I’d like to explore adding a new status level.

So, current post progression:

Draft --> Pending Review --> Scheduled/Published

Desired post progression:

Draft --> Pending Review --> Under Review --> Scheduled/Published

Thoughts?

I recommend you install the Editflow plugin, it lets you add arbitrary post statuses so that you can customise your workflow as you wish

http://editflow.org/