Conditional Formatting with Calculated Columns: SharePoint 2010
There are a variety of ways to add color, images coding to your SharePoint lists and document libraries, from embedding custom code on your page to creating data view web parts with conditional formatting in SharePoint.
The end goal is to achieve conditional formatting like below.
Formula for the Calculated Column (Status):
Formula for the Calculated Column (progress Indicator):
The technique used here is a combination of Calculated Columns and CSS/images styling on a list.