Three Components of Project Team Performance Evaluations
Performance evaluations serve many purposes within an organization. They offer insight into an individual’s or team’s performance, and they provide a standardized way to make comparisons among teams and individual members. They also provide a company with information about its employees' strengths and weaknesses, which can then be translated into strategic planning initiatives.
Unfortunately, since there are so many different types of performance appraisal systems, companies typically choose a one-size-fits-all approach that often results in ineffective reviews of performance, yielding poor comparative decisions and development strategies.
To ensure project teams and individual members within those teams are evaluated fairly and consistently, the following three-component performance appraisal approach is recommended. In addition to the traditional manager review, this approach includes a peer and self-evaluation component. By utilizing this 360-degree evaluation, also called a multi-rater evaluation, method, project managers and project teams can rest assured that performance evaluations will yield more accurate portrayals of individual and team strengths, weaknesses, accomplishments, and shortcomings.