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Compose a 1500 words assignment on components of performance management process. Needs to be plagiarism free! It helps not only in the elimination of shortcomings and reasons creating gaps between desired and expected, but also fosters training and development opportunities for employees on the basis of individual requirements. Performance management system facilitates the strategic decision of promotions and transfers which are needed to align the goals with the right set of people and pursue the expansion or diversification moves of the organization. Also, wage administration, designing training and development session and overall personnel management come under the purview of performance management which is an integral component of human resources strategy. Individually, it provides opportunities for employees to identify their strengths and weaknesses. compare them against their duties and improve upon the existing performance. Standards allow them to move in the right direction and answer the ‘what’, ‘why’ and ‘how’ of his job expectations. Just like any procedural programme, the performance management process also entails three major components of planning, coaching and reviewing (Performance Management Process Handbook 1999) (Appendix 1). Explanation of these three components goes as: The planning component is about assessing the feasibility of the process, laying down objectives and defining roles and responsibilities after open discussion between managers and employees. It seeks to clarify everything to the entities involved and ensures that employees understand the purpose, functioning, and expectation from this process. It sets a time frame for them to develop skills which can be monitored and reviewed. The planning process majorly concentrates on defining employees’ accountability and their expected contribution towards the organization, both qualitatively and quantitatively. This phase also sets the factors which will decide the criteria for analyzing behaviors and differentiate them on the basis of exceeding standards, meeting standards and below standards.