It is possible to measure virtually any activity in the program, but if the measurement does not support a key objective, it is not worth the cost of data collection and analysis.
From the Dayton Aerospace Integrated Project Management Handbook. This is one of the better handbooks for developing the Integrated Master Plan / Integrated Master Schedule. The IMP/IMS is the standard paradigm for defining what "done" looks like in the aerospace and defense business. This paradigm is sorely needed in enterprise IT, where "done" comes when you run our of time and money.