I agree with all the posts above explaining the value of metrics, but I do think there can reach a point where a company can over-track metrics to a point that it becomes burdensome on the project. If having good metrics becomes the main focus of the project, it can hinder the development of the actual product, since the team is so wrapped up in maintaining good metrics and looking good in the eyes of upper management. If used properly, I do agree that metrics can be a good way to measure project health and an easy way to communicate it to management.