The change status field uses the 'State Transition' capability of pick lists, which basically means you're force to go through each status and you can't skip them. See this link for a view of what each of the options are: Change State Transitions Reference
In the change module, against the Status field you are able to add transition options if you want:
Then as far as going through the processes, you can build into the workflow for the status to change at certain points (it already changes to Scheduled after all the approvers).
Hope that helps, let me know if you have more questions.
That's really helpful.