At least in this forum, we have four designations for translation status. Two of them denote the intention of the translation, and the other two denote the current status.
Status:
Complete - The translation has been completed, to the translator's definition of complete. This usually means the project will not receive any more updates, aside from perhaps bug fixes or, if the game itself has an update, they decide to translate that as well.
WIP - "Work In Progress" indicates that the project is being worked on (actively or not). This means that the translation is not complete, but can still be used to translate some parts of the game.
Intention:
Full - The translator intends on providing a translation that will cover as much of the text as possible. It doesn't necessarily mean ALL text, as some translators may leave a small detail or two out, but in general, full translations indicate that things like a game's dialogue, flavor text, plot-related lines, etc will all be translated
Partial - Partial translations have varying levels of completeness, but the general idea is that a partial will provide enough translation to allow one to understand the gameplay mechanics at least. This would include menu and UI translations, statuses, items, and possibly even gameplay-critical dialogue or plot text. They are not meant to provide you with a full context of the game, but rather just allow you to understand the basic gameplay elements.
Thus, you'll see in the Translation sub-section that a thread will likely be given one of the following prefixes: (Complete - Full, Complete - Partial, WIP - Full, WIP - Partial).
