What is the correct status of the project if Criteria A is NOT OK, Criteria B is NOT OK, and Criteria C is OK?

The status of the project is indicated by evaluating the criteria's outcomes. In this case, Criteria A and B are both not okay, while Criteria C is okay. The key component here is that two of the three criteria have not been satisfied.

This strong emphasis on the number of unsatisfactory criteria leads to identifying significant problems within the project. When major issues are present in two of the three criteria, it signals that the project's health is at risk and requires immediate attention and resolution. Hence, the option indicating major issues identified aligns well with the overall state of the project.

The focus on the unsatisfactory conditions of Criteria A and B, alongside the satisfactory result of C, underscores the complexity of the project's status and justifies the characterization of it as having major issues identified. Managing these challenges effectively will be crucial for the project's future progress.