@Lee_Mellor – Asana’s custom fields will help you achieve the time parameters you’re looking for. In fact, teams at Asana including engineering, product, and marketing, use custom fields for this purpose exactly. I recommend that you create custom fields for estimated hours and project status. Enter the time you expect the project to take and mark project status as new, on track, or overdue.
If you’d prefer not to have a custom field for project status, you could also drag and drop tasks into sections for project status.
Other resources for you:
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Customers discuss how they manage sprints in the Community Starting a new sprint
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Video including how teams use custom fields Create custom work tracking with Asana's new custom fields