If you click on the title of any Project, you will be taken through to the Project Details Page, where you can update and edit the different sections, as well as add comments.
Similar to the Incident Management Headline Status, if an overall quick update is needed for those working on or keeping tabs on the project, you can add a Headline Status which will be visible in the projects list as well as within the project itself.
To add the overall comment, once you're in the project you'll see the Headline Status section towards the bottom of the details tab
By adding in a comment here, the text will be visible and bold once any user clicks into the project (as seen below)
It will also show a Headline Status icon within the projects list page. Once hovered over, any user can see the comment made to get a snapshot update on how the project is going.