BlueHeavenHero,
OBJECTIVE_ACTIVE - makes a quest active, meaning it can be completed and will be displayed to the player(s).
OBJECTIVE_COMPLETED - completes a quest.
OBJECTIVE_FAILED - fails a quest.
The OBJECTIVE_UNKNOWN status is also used for various situations, mainly in the GetObjectiveState function, to check if the quest has already been issued, in other words, if it doesn't have one of the previously mentioned statuses.
P.S. I can also add that you can set the "CanUncomplete" property of quests to "true," which will allow you to restart quests, i.e., make completed quests active again.