This HBR article "Many Strategies Fail Because They’re Not Actually Strategies", while not entirely about metrics, has some great recommendations for how leaders can avoid these pitfalls:
https://hbr.org/2017/11/many-strategies-fail-because-theyre-...
Their top recommendations are: A) Communicate the logic behind what you are trying to achieve; B) Make strategy execution a two-way process, not top-down; C) Let selection happen organically, through systems that cause strong initiatives to rise up to to the top; D) Find ways to make change the default, to help move beyond the status quo and existing habits
How do you achieve that?
I've always seen the exact opposite.
It is very tempting to measure things, use more data to better understand the world, and in this case, the state of a project.
But you can't. The world is too complex, too rich, too noisy.
https://en.wikipedia.org/wiki/The_Treachery_of_Images
https://en.wikipedia.org/wiki/Map%E2%80%93territory_relation