Clarity

Hi we need to make overall status from status report as a multi-select value in a portlet. Could you please help me to gain that?

for example: we should be able to select red and yellow status reports of a manager.

My Suggestion, create a new attribute on the Status Report object, and hide the original Overall Status.  If you do it correctly (aka using a Lookup which will return similar numeric values as the OOTB Overall Status), you will be able to modify the original Overall Status formula to be equal to the new attribute (rather than the OOTB formula of adding up cop_schedule_status,cop_scope_status,cop_cost_eft_status).  The last bit will be required if you are using OOTB Status Report reports which will still have logic associated with OOTB Overall Status.

Note, if you do modify the OOTB Overall Status attribute, it will be set back to OOTB defaults in future upgrades.  Not a big issue, but worth noting.