Rather than using negative reinforcement, it might be better to reward excellent behavior. This would prevent team members from becoming hesitant of helping others with their work or resort to a "he said, she said" situation. Projects are team efforts and most of the time problems occur to faulty planning or unexpected situations, not the fault of individual team members. It might be unfortunate that a project member does something out of the ordinary or shares information that is not accurate, but if that team member feels threatened if he tries to fix or report it, then that mistake may never be corrected. However, if a team member does not put effort into their work, then it can be expected they get retrained the first time and ultimately fired if the issue persists.

I agree with the previous posts that sometimes project delays and exceeding the budget is not always expected or at the fault of any team member. Rather, I would prefer delays and going over the budget over poor quality and performance. If there were events that could have been avoided or prevented by a team leader or member or they did not perform as expected, then managers should meet to have a discussion. Some consequences I could see happening are a decrease in a bonus for not meeting expectations. However, this should be a last resort. Project leads and team members should have transparency with their managers if a project is not going well and is facing timeline or budget related issues so that the situation does not get worse. Failure to report this and being transparent is also a bigger issue. Proper communication is essential for a project to go smoothly.

In my experience in industry, missing deadlines can mean the difference between a successful and failing project. Yes, I believe there should be some kind of consequence for going over project deadlines or budgets. More specifically, it should be a system of accountability that encourages responsibility on all levels. I noticed this works in high stakes industries, for example my time in the military. Delays or cost overruns can have ripple effects that impact the trust and safety of a company. Implementing mandatory project reviews an performance evaluations can ensure a team learns from their mistakes without fostering a punitive work environment. In my opinion, this approach treats the issue seriously while still allowing room for growth and innovation.