Explanation
The Set Transaction Status activity is used to mark the result of a queue item processing1. If the queue item fails with an application exception, it can be retried by setting its status to Failed2. The Retried status is automatically assigned by Orchestrator when a retry is triggered3. The Abandoned status is applied when a queue item remains in progress for too long without being processed4. The Postponed status is used to delay the processing of a queue item until a specific date and time.
References:
Managing Queues in Studio documentation, Step 9: Set Transaction Status section Queue Item Statuses documentation, Retried section Automation Best Practices documentation, Queue Item Status section Queue Item Statuses documentation, Abandoned section Queue Item Statuses documentation, Postponed section