Currently, if you include Initiative Time Frame in a Report, you cannot sort by that field. Even being able to do an alpha sort would be helpful. We were forced to create a custom free text field which duplicates Time Frame just to be able to sort it in Report views.
|Release time frame|
This is currently possible today. By default, Time frames are sorted in an alpha sort - see attached for the configuration and screenshot.
Note that this does depend on the way that the Time frames are named. However, using the convention noted in the screenshot will allow you to sort it in the desired manner.