This document discusses software metrics, which are measures used to evaluate characteristics of software. It describes two types of metrics: product metrics that measure attributes of the software like size and complexity, and process metrics that evaluate the development process. Metrics can be internal, measuring importance to developers, external focusing on user importance, or hybrid combining multiple factors. The document outlines advantages like analysis and comparison, and disadvantages like difficulty and lack of standardization. Project metrics specifically help managers track progress against estimates.