Formula for automatically populating a cell within a column based on value from another column

Hi,

I'm trying to populate column "A" with a formula only where column "B" equals "Defect" from a dropdown list. The formula I am trying to populate in column "A" is the following IF statement:

=IFERROR(IF(COUNT(CHILDREN()) = 0, "", IF(COUNTIF(CHILDREN(), "Past Due") > 0, "Past Due", IF(COUNTIF(CHILDREN(), "At Risk") > 0, "At Risk", IF(COUNTIF(CHILDREN(), "On Hold") > 0, "On Hold", IF(COUNTIF(CHILDREN(), "In Progress") > 0, "In Progress", IF(AND(COUNTIF(CHILDREN(), "Completed") + COUNTIF(CHILDREN(), "Complete (Removed)") = COUNT(CHILDREN())), "Completed", IF(COUNTIF(CHILDREN(), "Not Planned") = COUNT(CHILDREN()), "Not Planned", IF(COUNTIF(CHILDREN(), "Not Started") = COUNT(CHILDREN()), "Not Started", IF(COUNTIF(CHILDREN(), "") = COUNT(CHILDREN()), "Not Planned", IF(COUNTIF(CHILDREN(), "Completed") + COUNTIF(CHILDREN(), "In Progress") > 0, "In Progress", "Not Started")))))))))), "")

How can I paste that IF statement into all cells in Column "A" where Column "B" = 'Defect'?

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