What is worse for a project manager, not finishing on time or submitting bad quality work?

ITS ALWAYS BETTER TO BE LATE THAN NEVER TOUCH YOUR REAL OBJECTIVE.

A project manager is the one person that could make a project a success with savings or profit, and could make it a disaster 

Both, Project management is all about completing the task within time and within budget without compromising on quality of the work.

In terms of comparing achieveing time or achieveing good quality, fail to achieve target in time dosen't have deep influence else will be documented in the project history. On the other hand fail to achieve target in qualty will cause serious  current and future problems which will affect company reputation

A bad quality work needs rectification. If not possible, work to be dismantled and to be redone. This involves costs(MONEY & TIME). Whereas good quality work with delays can be accepted with LDs ( Liquidated Damages) which are minimum as compared to bad quality works, which also need to complete (redoing) extra time, which once again attracts LDs.

Overall, getting done bad quality works is nothing but throwing away money, fit for nothing.

i think both are worst

Both are bad. Delays can be a sort of bad quality work (management); only, bad overall quality is unacceptable and will kill a manager reputation and its employer's too.

Both are not acceptable but No compromise on bad Quality work.

I believe they are both unacceptable.

Both factors are detrimental for critical projects. However as compared to Timeliness, Quality is more important as your future marketability depends on it. When the project is done, even if there are minor delays, the consumer would judge the quality as he/she will be using it. If quality is poor it will severely impact the overall marketability of the project and even yours as a project manager. The entire IRR / payback of the project can be effected if consumers fail the end result i.e. the project

The worse condition is finishing in bad quality.

Delay finishing has adverse reputation but may be reasonable and excused because of things out of hand.

But the bad quality finishing is targetting the wellness and performance of the work which kills reputation of the manager,