Michelle, there is much more than flipping the Project to 'Hold' status. The Business user is also asking for the following. Please check these as well.
1, Resources should not enter time in this duration. (Not sure if the Workflow will cover this scenario).
2, Resource requests need to have a break during the 'Hold' such that the Finances are calculated accurately once the project starts. Make sure the Budget and Projections are right.
3, Risks/Issues need to be updated accurately so you have covered your track (put all the details in the last Status Report with attachments and decisions).
These are a few things you need to make sure these are covered. The ask is not just technical but must solve the business need. Hope this helps.
