Hide initiatives of specific status' from Features

When creating initiatives there are times when they have not been approved or started.  When a user is looking at a feature, I don't want them to be able to select initiatives that are not fully baked.  If the status category of an initiative is either Done, Shipped, or Will Not Do then the initiative is not shown in the list and cannot be selected.  What we need is another status category that behaves similarly but uses a different term, such as Waiting, Under Development, On Hold, Coming Soon, or Just Hold Your Horses.  This will allow the Product Manage or business leaders to work on the details of the initiative before others are able to start using it.