You need to create a stored procedure having the above mentioned query, and then add that stored procedure as a step for the job and schedule it. Your required query should be like:
Update TableName Set ExpectedProgress = datediff(dd,startDate,todaydate)*(100/daediff(dd,StartDate,duedate))
Update TableName set status=(case when progress>= ExpectedProgress then 'true' else 'false' end.
For creating a job here are the steps: http://technet.microsoft.com/en-us/library/ms190268.aspx