Conditional Format Based on Two Columns

Hi 
You can create a flag measure with a combined condition with "and" 
And base a conditional formatting on this measure.
For more detailed suggestion 

Please provide sample data that covers your issue or question completely, in a usable format (not as a screenshot).
https://community.powerbi.com/t5/Community-Blog/How-to-provide-sample-data-in-the-Power-BI-Forum/ba-...
Please show the expected outcome based on the sample data you provided.

https://community.powerbi.com/t5/Desktop/How-to-Get-Your-Question-Answered-Quickly/m-p/1447523

As I mentioned it is a scenario to combine measure if you will attach data I will try to show how it can work 🙂

Hi kp_wood13 
If i understood correctly  you can use Dax measure like :

Flag for formatting =

if ((max('Table'[stage]) = "initiate" || max('Table'[stage]) = "Plan") && max('Table'[Value])= "N", "red",

if (MAX('Table'[Value])= "Y", "green"))

and use it in the conditional formatting of the matrix:

Result:

you can use hex color codes instead of their names if you want other green/red 

PBIX is attached

If this post helps, then please consider Accepting it as the solution to help the other members find it more quickl

For what it's worth I found a solution in this post. Rather than just looking at the two stages I'm making rules for all 4. 

https://community.fabric.microsoft.com/t5/Desktop/Custom-Background-Color-Based-Off-Multiple-Conditions/td-p/2013814