A metric describes something selected for observation; by itself, it does not explain what to do. Its practical meaning depends on the decision in view, the time available, and the assumptions surrounding it. Starting with the decision can help a team distinguish an informative signal from an attractive number that does not change its next choice.
Ask what decision a measure is meant to inform before adding it to the reporting rhythm.
This is a working hypothesis, not a case for reducing performance to a short list of indicators. Some measures serve stewardship, learning, or accountability over a longer horizon. The useful question is whether their purpose and interpretation are clear to the people expected to act on them.