This in-depth review goes deep into the ever-changing world of performance management, looking at the shifting trends, common problems, and huge effects on employee performance. The study looks at how performance management methods work in a variety of business settings, from small local businesses to large Maharatna companies. By looking at how well these methods work, the study hopes to find the best ways to do things and show where they can be improved. This study focuses on the manufacturing industry, which is an important part of the world economy. It looks at how well performance management systems work in this area. The study takes a detailed look at different project management situations and shows how tailored methods can help by taking into account the special challenges and chances that come with each one. As the review goes on, the focus changes to how important performance management activities are for improving employees skills and abilities. The connection between engagement and performance management is the main focus, showing how the two can work together to help employees learn new skills and grow as a whole. This in-depth study lays the groundwork for future research and shows companies how to improve their performance management methods to keep up with the changing needs of workers and the business world as a whole.