“Status” vs. “state”

http://english.stackexchange.com/questions/12958/status-vs-state

 

Can anyone explain what the difference between status and state is when I talk about the condition or situation of an object?

Here's what I got from Longman English Dictionary.

status: a situation at a particular time, especially in an argument, discussion etc.

state: the physical or mental condition that someone or something is in

For example, how do you interpret these two sentences:

  1. What is the current status of this project?

  2. What is the current state of this project?

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