One possible outcome of the use of project schedules as
the sole project performance measure is that industrial projects
can fall behind schedule and come in over-budget. For
example, in the case of Honeywell Federal Manufacturing
& Technologies (FM&T), project schedules were used as
the sole project performance measure. This method centered
on measuring ongoing and final project performance
against project goals. While this approach provided some
basis for evaluating the extent of success across projects,
it did not explicitly take into account differences in project
characteristics which may have impacted cost and schedule
performance, nor did it take into consideration the appropriateness
of project goals (Freeman and Beale, 1992).