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Different methods like Self appraisal, Peer appraisal, Team appraisal, Assessment centre, 360-degree or full circle appraisal, Management-by-objectives, Combination of methods are used to regularly enhance and manage the performance of organizations. Self Appraisal System

Self appraisal system gives the employee a chance to make judgment about him. Mostly employees have grudges about their managers doing their appraisals but this system gives them a chance to voice their own opinions and judgments about their own work. Biggest positive point is that employee cannot complain or grudge about the process when he is doing it himself. The negative point is that the person himself is mostly unable to highlight negative points about him and can be biased giving a more positive appraisal when in fact it could be negative.

360-degree or Full Circle Appraisal

360 degree incorporates feedback from multiple sources that is superiors, subordinates, peers, and/or customers into the performance appraisal process. The strength of the system is that...

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If one manager has the positive feedback of the employee and others in the system also agree with that then it results in the positive re-enforcement of the verdict of the manager. The process should include all employees including top managers otherwise it could backfire. Another weakness of this system is inclusion of customers because customers are better at evaluating products and services than evaluating individuals.
References

Lawler III, E. & Mohrman, S.(2003),'HR as a Strategic Partner: What Does it Take to Make it Happen?', Human Resource Planning, Vol.26, No.3, p.15+.

Pollack, D. & Pollack, L. (1996). Using 360 Degree Feedback in Performance Appraisal. Public Personnel Management. Vol: 25. Issue: 4. P. 507+.

Inderrieden, E., Allen, R. & Keaveny, T. (2004). Managerial Discretion in the Use of Self-Ratings in an Appraisal System: The Antecedents and Consequences. Journal of Managerial Issues. Vol: 16. Issue: 4. 2004. P. 460+.

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References

Lawler III, E. & Mohrman, S.(2003),'HR as a Strategic Partner: What Does it Take to Make it Happen?', Human Resource Planning, Vol.26, No.3, p.15+.

Pollack, D. & Pollack, L. (1996). Using 360 Degree Feedback in Performance Appraisal. Public Personnel Management. Vol: 25. Issue: 4. P. 507+.

Inderrieden, E., Allen, R. & Keaveny, T. (2004). Managerial Discretion in the Use of Self-Ratings in an Appraisal System: The Antecedents and Consequences. Journal of Managerial Issues. Vol: 16. Issue: 4. 2004. P. 460+.
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