+1 for this.  Massive missing puzzle piece IMO

As many others have stated, this would be a greatly beneficial feature to add. I don't have high hopes this will get done any time soon but would like to iterate that this is a core function for "company managed" aspects and processes that reach into every department but mainly driven by Quality workflows which are critical to business operations. 

Please consider this as a critical feature.

Hala ElRoumy, what is jws24? Jira winning suggestion to be released in 2024?

+1. We want to implement this for our org ASAP.

We use company-managed projects to manage portfolios for each of our business units.  Anyone can submit a request to one of those backlogs, so the first approval is from the designated manager for that portfolio, to approve/confirm that specific request should be worked on, and its priority related to other requests.  Once work has started, we need other approvals along the way, such as approval from our IS management to deploy any change to production.  In some cases, we also require approvals during the SDLC, from business and/or IS management.

Absolute Must Have.

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Here is a Product Owner reasoning, that should have come up within Atlassian tribe:

JWM Project can have approval based workflows.

Approvals usually are basis for Audits within customer organizations

Approvals must be exposed on UI and export.

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Use case for our Group:

Document Approvals.

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Our timezones don't line up for a meeting, but happy to share our use case:

We have a company-managed project that serves as our enterprise project portfolio. By business process, any product manager can suggest a new project, but the first step is approval by a department head before any additional estimation/requirement work is authorized. 

Currently, we do this by workflow transition and automation to assign the issue to the VP, but having approval functionality (similar to how Jira Service Management uses it) provides better audit history of approvals as well as more ability to restrict the actual approval to a specific user (or group of users).

must have!

+1, please asap

YES PLEASE!!  My entire instance is company managed projects as we've defined strict standards that all teams start with.  Approvals would be welcome new feature that has already been requested by many teams...