Different project management metrics can be defined based on a project’s objective and complexity. However, the following five typically cover the most important measurements:

Productivity – This metric allows project managers to assess the utilization of resources. It compares the total effort to the budgeted effort, which has a direct impact on the bottom line. Delays in the timeline, underperformance by staff or vendor and unavoidable circumstances can all impact the productivity metric.
The scope of Work – A project’s scope is typically established right up front, but changes and additions can derail even the best project manager’s efforts. Tracking change requests are necessary, to control them and keep the project on time and budget.
Quality and Satisfaction – Quality assurance is a truly customer-focused metric. Assuring low defects throughout the project, as well as a quality deliverable at its end, should be part of every project. Catching defects early can also help prevent the entire project from losing focus and failing.
Cost – Measuring how costs are managed is often critical to a project’s success. Cost management is related to other variables, such as quality, scope, and productivity, so if it varies above or below projections, the project can suffer. Ideally, the cost is closely monitored throughout the project so if costs rise unexpectedly, variables such as scope or time are adjusted and the project can still achieve its objectives.
Gross Margin – Typically, a project’s ultimate goal is to contribute to the organization by increasing profits. The gross margin is the difference between total income achieved and total costs spent on the project. A project should have a target gross margin established in the planning stages, and it should be measured throughout. Project managers who achieve or exceed target gross margins are often extremely valuable.