Performance appraisal involves evaluating an employee's performance, while performance management is a continuous process of identifying, measuring, and developing an individual's performance in order to meet the organization's goals. Performance appraisal is a single event, whereas performance management involves continuous communication between the employee and the manager. Modern methods of performance appraisal include management by objectives, assessment centers, behaviorally anchored rating scales, role analysis, human resource accounting, psychological appraisal methods, and 360 degree feedback. Performance management provides benefits such as improved performance, employee development, better communication, and increased motivation.