From what I can gather, the reputation system is board wide and isn't tied to any specific actions other than one user liking or disliking something another member did or said.
I think the idea of using it as an incentive to get projects done is a good one. I also think that I don't want to turn this forum or PJ as a whole into a clique-state where only the cool kids rule.
I'll have to give it some thought and ask the brass what they think. Turning in a negative response to someone who didn't finish on time or at all or is non-responsive may be a dicey situation.
Good thinking though.