In schools and colleges, the number of subjects were limited and well defined. Not so in the world of professions and occupations. Skills we acquire as we move into the professional world are far too many, they keep emerging, we start getting differentiated in our skills profiles. Students passing out of as Mechanical Engineers get into different occupations that involve Mechanical Engineering and as years pass we realize that hardly two individuals have the same combination of skills.
While the template of report cards is useful for analyzing data on skills, it is impractical for the real world of professions or occupations. There is no governing body like the school or college that defines what the subjects should be nor what measure should be used for indicating performance (marks, grades) nor the process of measurement laid (exams, teachers' evaluation or observation).