doc: Update README.md to include WIP status

README.md

@@ -58,15 +58,25 @@ All EP documents must be MIT licensed.
 ## Progress of an EP
 
 All EPs will be committed to the repository regardless of their acceptance.
-The initial status shall be **"DRAFT"**.
+The initial status shall either be **"WIP"** or **"DRAFT"**.
+
+If the status is **"WIP"**, that means that it is a work in progress and
+is expected that the EP will be iterated on over a period of time
+before it becomes a complete proposal such that could be reviewed
+and move to **"ACCEPTED"**.  This status allows visiblity and feedback
+while setting the appropriate expectation in terms of completeness.
+
+If the status is **"DRAFT"**, that means the authors believe the prosoal
+is complete and is ready to be reviewed in the context of deciding to
+move it to **"ACCEPTED"** or **"REJECTED"**.
 
 If the document is uncontroversial and agreement is reached quickly it might be
 committed directly with the **"ACCEPTED"** status. Likewise, if the proposal is
 rejected the status shall be **"REJECTED"**. When a document is rejected a
 member of the core team should append a section describing the reasons for
 rejection.
 
-A document shall also be committed in **"DRAFT"** status. This means consensus
-has not been reached yet.
+A document shall also be committed in **"WIP"** or **"DRAFT"**
+status. This means consensus has not been reached yet.
 
 The author of an EP is expected to actually pursue and implement the proposal.