Good - The project consistently uses a short list of technologies. I can conceptually describe the technology. For example, the technology being used is .NET and SQL*Server.
Bad - The project uses an extensive and changing list of technologies. Initially it was Microsoft; some months later it's Java and more recently something called LAMP is being discussed. For example, the project changed from .NET/SQL*Server to LAMP claiming shorter software development times.
Ugly - I observe the project team using lots of technology buzzwords in discussions. It's not clear what technologies the project is actually using. I've seen a flashy demo but I'm not sure how that delivers business value. For example, some of the project team is using Java for the database layer, others are using .NET for the application layer and a few are using PHP for the presentation layer. It appears the developers are using the tools they're most comfortable with or the tools they want to explore.
Select and stay with a set of technologies for the project. Avoid revisiting technology selection as new glitzy products are announced. Pick technologies where the IT organization demonstrates expertise and experience.
Successful project managers assertively insist project team members to stick with the selected technology.