How to automate a project tracker

System

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sajh78

I am looking for a way to automatically change a drop-down option based on the data entered into a different cell.

Monthly we track target goals against actual goals. The target goals stay the same throughout the year, however the actual goals are updated monthly. Based on the actual goals, monthy we determine if the project is on track, tracking ahead or tracking behind.

Is there a way to automate the project tracker (on target, tracking ahead, tracking behind) based on the most recent actual goal entry?