The metrics I suggested for use in an agile project will be equally valuable for a non-agile project as well. The terms / concepts used there-in have to be re-defined, though.
0. Story - A work component; Could be a use case, a functional requirement, etc.
1. Value estimates - Value of the work component (story / use case, etc.) towards enhancing the product. If this is not defined for the work components, it could be temporarily substituted with their effort estimates
2. Complexity estimates - Relative estimate of the complexity of the work component, relates to the effort needed for delivering the work component. This could be the effort estimates for the work component
3. Iteration - Time between 2 successive status reports (in projects that have a fortnightly status report, iteration will be a fortnight)
4. Status - status of the story. E.g. Analysis complete, Coding Complete, Testing Complete, etc.
5. Done Status for stories - This is the last tracked status in the life cycle of the work component. In agile projects, this is often "Showcase Complete" / "Customer Accepted".
6. Velocity - Sum of Value / Complexity estimates of all "Done" stories in an iteration