Synonym for "final" or antonym for "draft"

How about:

1. Draft
2. Pre-approval
3. Approved

(I suggest you avoid using Approval and Approved together because they are visually similar.)

If there are functional differences at different stages of the workflow, you could describe the document in those terms. This helps the user understand what's going on. E.g.:

1. Editable
2. Locked
3. Approved

The instances in which the verbs are causing conflict is because the people who directly benefit from having done each stage regard each stage as their particular "final" version.

Instead of naming the stages after the verb "finalize", try naming them after what they create. For instance:

• Evaluaton of midterm
• Unreviewed midterm grade
• Peer-reviewed midterm grade (10 peers)
• Draft midterm-grade (1 tutor)
• Final midterm-grade (university approval)

I'm making some of this up because I don't know your process, but that's half the point. Naming things after the process which creates them is like calling a child a birth. You can name processes as an interim necessity of progress, but if you measure them as the results of progress then all you get is people gaming systems to do the things you told them to without the goals.

For those people who think this might not be anything to do with the English Language, I heartily recommend reading Metaphors We Live By. We commonly use metaphors which treat work done as value achieved. This is at the heart of some of the difficulties that Western countries face, IMO.

The word you want is "finished".

It will be convenient and appropriate if you name the versions to reflect their intended destination. However, for that you will need to clear the existing associations from your thinking and look at it afresh.

1. Evaluation -- is ready for, will go next for evaluation
2. Approval -- is ready for, will go next for approval
3. Final -- is ready. Will not go anywhere for any modifications.

Also, you will need to completely do away with all references to the word 'final', except to designate the one and only version called 'Final' with a capital 'F'.